We’ve met GHS400m MCR – UMB

Lorlornyofm
By Lorlornyofm January 7, 2019 09:05

We’ve met GHS400m MCR – UMB

The management of Universal Merchant Bank (UMB) has announced that it received funding to meet the GHS400 million minimum capital requirement.

A text message sent to all customers of the bank on Friday, 4 January 2019, said: “UMB wishes to inform you it has received the funding to meet the new Bank of Ghana minimum capital requirement of GHS400 million by December 31.”

Meanwhile, the Bank of Ghana (BoG) has assured the customers of Premium Bank and Heritage Bank that their deposits are safe and fully accessible following the revocation of the licences of the two by the apex bank.

At a press conference on Friday, 4 January 2018, Governor of the Bank of Ghana (BoG), Dr Ernest Addison, stressed that: “All deposits of the two banks are safe and customers will continue to have full access to their funds”.

The BoG has also approved a Purchase and Assumption Agreement between the Receiver of the two banks and Consolidated Bank Ghana Limited (CBG) under which the Receiver has transferred some assets and liabilities of the two banks to CBG.

“All deposits (current, savings and fixed deposit accounts) of the two banks have been transferred to CBG with effect from the date of this notice,” the statement noted.

Consequently, the government of Ghana has also “issued a bond in the face of GHS 1.403 billion to CBG to cover the gap between the value of the good assets and liabilities of the two banks transferred to CBG”.

Source: Ghana/ClassFMonline.com/91.3FM

Lorlornyofm
By Lorlornyofm January 7, 2019 09:05
Write a comment

No Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment
View comments

Write a comment

Your e-mail address will not be published.
Required fields are marked*

*