The Bank of Ghana (BoG) is considering extending the recapitalisation deadline for one of two banks currently struggling to meet the minimum capital requirements, Governor Dr. Johnson Pandit Asiama has disclosed.
Even though, Dr Asiama did not reveal the names of the banks, he indicated that the central bank is taking a measured approach based on the progress made by the affected institutions.
“Out of the two banks, one is making significant progress towards meeting the recapitalisation requirements, and we may consider giving that institution some extension,” he said at press conference to announce the decision of the Monetary Policy Committee.
He stressed that the move is aimed at supporting viable institutions while maintaining the integrity of the financial system.
“We want to ensure that the process is completed successfully without undermining the stability of the banking sector,” he added.
According to the Governor, the second bank is also making efforts but may require more time and closer regulatory engagement.
“The other bank is making efforts as well, but it is at a different stage. We will continue to monitor developments and engage them accordingly,” he noted.
Dr Asiama reiterated that any decision to extend the deadline will be carefully assessed and will not compromise the central bank’s regulatory standards.
“Any extension granted will be based on clear evidence of progress and commitment to meeting the requirements,” he emphasized.
The recapitalisation exercise forms part of broader reforms by the Bank of Ghana to strengthen the banking sector, improve resilience, and safeguard depositors’ funds.
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Source: www.myjoyonline.com