First Atlantic Bank exceeds BoG’s capital requirement

First Atlantic Bank has publicized that it has met the Bank of Ghana’s 400 million cedis minimum capital requirement.

According to the bank, its new capital position exceeds the 400 million cedis.

In a statement to confirm the bank’s new position, the bank said it will continue to be a credible and dependable financial partner to all its customers both existing and prospective.

First Atlantic Bank entered into a merger with Energy Commercial Bank for the recapitalization.

ALSO READ: BoG approves First Atlantic, Energy Commercial Bank merger talks

It followed Energy Commercial bank’s inability to meet its target for its Initial Public Offering to raise money to enable it meet the minimum capital level.