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Breaking: Banking sector consolidation completed, banks reduced from 33 to 23

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Bank numbers in Ghana have reduced from 33 to 23 under a banking sector cleaning exercise that led to the collapse of nine banks and three mergers.

The exercise also coincided with the exit of the Bank of Baroda in December 2018.
The Governor of the Bank of Ghana, Dr Ernest Addison said the clean upexercise has since ended and a strong and resilient banking sector should be expected.
He said the exercise was “expensive” and cost the state in excess of GHc12billion.

Related stories:

Heritage Bank collapsed, merged with Consolidated Bank
GN Bank downgraded to savings and loans company
Bank of Ghana appoints advisor for NIB

For current Ghana news | Ghana Business News | News in Ghana
Stanbic Bank ‘takes over’ Baroda’s customers
Bank of Baroda (Ghana) Ltd: Why we are winding up in Ghana

more to follow…

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