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UBA Ghana exceeds BoG’s minimum capital requirement

United Bank for Africa (UBA) Ghana Limited, a subsidiary of United Bank for Africa Plc, has recorded a strong financial performance and exceeded the Bank of Ghana’s (BoG’s) GH¢400 million minimum capital requirement, as indicated in its Q3 Financial Report.

Mrs. Abiola Bawuah, MD/CEO of UBA Ghana and Regional Chief Executive Officer of UBA West Africa 1, overseeing Ghana, Benin, Burkina Faso, Cote d’Ivoire, Liberia and Sierra Leone disclosed this in an interview in Accra.

She said that, “last year, the Bank of Ghana came out with a new requirement that all banks should meet a minimum paid-up capital of GH¢400 million by 31st December 2018. I am happy to announce that as of September 2018, UBA Ghana had exceeded the GH¢400 million capital requirement”.

In September 2017, the BoG announced the new minimum paid-up capital requirement, as part of a holistic financial sector reform plan to further develop, strengthen, and modernize the financial sector to support the government’s economic vision and transformational agenda.

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The GH¢400 million minimum capital requirement which is a 233 percent increase over the previous GH¢120 million benchmark, according to the Central Bank is to create stronger banks that can drive the Country’s economic growth by undertaking big ticket transactions.

United Bank for Africa (UBA) Ghana Limited, a subsidiary of United Bank for Africa Plc, has recorded a strong financial performance and exceeded the Bank of Ghana’s (BoG’s) GH¢400 million minimum capital requirement, as indicated in its Q3 Financial Report.

Mrs. Abiola Bawuah, MD/CEO of UBA Ghana and Regional Chief Executive Officer of UBA West Africa 1, overseeing Ghana, Benin, Burkina Faso, Cote d’Ivoire, Liberia and Sierra Leone disclosed this in an interview in Accra.

She said that, “last year, the Bank of Ghana came out with a new requirement that all banks should meet a minimum paid-up capital of GH¢400 million by 31st December 2018. I am happy to announce that as of September 2018, UBA Ghana had exceeded the GH¢400 million capital requirement”.

In September 2017, the BoG announced the new minimum paid-up capital requirement, as part of a holistic financial sector reform plan to further develop, strengthen, and modernize the financial sector to support the government’s economic vision and transformational agenda.

The GH¢400 million minimum capital requirement which is a 233 percent increase over the previous GH¢120 million benchmark, according to the Central Bank is to create stronger banks that can drive the Country’s economic growth by undertaking big ticket transactions.

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