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Business News Thu, 9 Nov 2017

Cal Bank will make GHS400 million capital - MD

Cal Bank has dismissed rumours that it intends merging with another bank, in a bid to meet the new minimum capital requirement of GHS400 million set by the Bank of Ghana.

The central bank in September announced the new minimum capital and has given the banks up to December 2018 to meet the requirement.

Class Business has gathered that some banks are already in talks with each other, for a possible merger to meet the target.

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Addressing journalists at the Facts Behind the Figures forum at the Ghana Stock Exchange, Managing Director of Cal Bank, Frank Adu Jr. said, they are in a better position to meet the capital requirement.

“We will achieve it. You know first you have to go on your own steam; on our own steam we can achieve GHS400m.

“…Be assured that with or without a merger, with or without fresh capital infusion, we can achieve the GHS400m,” Mr Adu Jr. said.

Source: Classfmonline.com
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