We're not collapsing – Prudential Bank

The management of Prudential Bank Limited has asked its customers to disregard information making the rounds on social media that it is “dying”, and, so, they should “rush to withdraw their funds”.

“The management of Prudential Bank Limited is assuring customers that the publications are totally false and should be ignored. They are mere fabrications calculated to destroy the good image of the bank,” it said in a statement.

The bank has never experienced any liquidity problems nor has it gone to Bank of Ghana for liquidity support in its 22-year history, and this can be attested to by the Bank of Ghana, the statement added.

It noted that the bank has always complied with the requirement for the quarterly and annual financial publications and monthly submissions of returns to Bank of Ghana.

So far seven local banks have collapsed within a space of one year – August 2017 to August 2018.

They include UT Bank, Capital Bank, uniBank, Sovereign Bank, The Royal Bank, The Beige Bank, and The Construction Bank.

UT Bank and Capital Bank went under in August 2017. They were taken over by GCB Bank while the last five were put together by the Bank of Ghana to form the all-new Consolidate Bank Ghana Limited (CBG).