Ecobank Ghana by June this
year is set to meet the new minimum capital requirement. This comes at a time
when a number of banks are racing to meet the minimum capital requirement of
GH¢400 million by December 2018, from the GH¢120 million set by the Bank of
Ghana.
Managing Director Daniel Sackey, said the shareholders had given the bank the approval to increase its current stated capital of over GH¢226 million through a capitalization of their income surplus. This will see an additional GH¢190 million being added to the bank’s stated capital.
He also said that “the bank will maintain a well-diversified portfolio to prevent exposure to few sectors and associated concentration risk”. Apart from better asset allocation the bank also remains strong on loan monitoring and collections and envisage that the shift in capital requirement will only contribute to a stronger balance sheet and an enhancement to our already measured leverage policy” he added.
Managing Director Daniel Sackey, said the shareholders had given the bank the approval to increase its current stated capital of over GH¢226 million through a capitalization of their income surplus. This will see an additional GH¢190 million being added to the bank’s stated capital.
He also said that “the bank will maintain a well-diversified portfolio to prevent exposure to few sectors and associated concentration risk”. Apart from better asset allocation the bank also remains strong on loan monitoring and collections and envisage that the shift in capital requirement will only contribute to a stronger balance sheet and an enhancement to our already measured leverage policy” he added.
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