Details: See the full list of recapitalised banks in Ghana

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By: Maxwell Akalaare Adombila

The Bank of Ghana (BoG) will, this week, announce the list of banks that have successfully raised their minimum capitals to GH₵400 million in compliance with its earlier directive, which elapsed on December 31, 2018.

Ahead of the official announcement, Graphic Online is making the following informed predictions based on reliable information pieced together.

  1. We foresee BoG making key decisions on two of the banks, using provisions set out in Sections 103 to 137 of the Banks and Specialised Deposits Taking Institutions Act 2016 (Act 930).

Both banks are unable to recapitalise, with one having a capital deficit in excess of GH₵800 million.

  1. We foresee one bank being downgraded to a savings and loans company for being unable to meet the minimum paid-up capital as of the December 31, 2018 deadline
  2. We foresee BoG announcing that it has accepted a government-backed arrangement by private investors to raise up to GH₵2 billion through bonds to invest in six indigenous banks to enable them to meet the minimum capital.

The first tranche of the bond could be around GH₵800 million and will be used to recapitalise well-governed, solvent but undercapitalised banks (find list below).

The transaction is being executed by a special purpose vehicle, the Ghana Amalgamated Trust (GAT) Limited.

Below is the list of banks and their status as far as the recapitalisation is concerned:

List of successfully recapitalised banks:

  1. Access Bank Ghana Limited
  2. Barclays Bank Ghana Limited
  3. CAL Bank Limited
  4. Consolidated Bank
  5. Ecobank Ghana Limited
  6. FBNBank Ghana Limited
  7. Fidelity Bank Limited
  8. First National Bank Ghana Limited (FNB)


  1. Republic Bank Ghana Limited
  2. GCB Bank Limited
  3. Guaranty Trust Bank Ghana Limited (GTBank)
  4. Society Generale Ghana Limited
  5. Stanbic Bank Ghana Limited
  6. Standard Chartered Bank Ghana
  7. United Bank for Africa Ghana Limited (UBA)
  8. Zenith Bank Ghana Limited

Not recapitalised but being supported:

  1. ADB Bank
  2. National Investment Bank (NIB)
  3. Prudential Bank
  4. Universal Merchant Bank Limited (UMB)
  5. Heritage Bank Limited
  6. OmniBank Limited

Ongoing mergers

  1. Energy Commercial Bank Ghana Limited and First Atlantic Bank Limited
  2. OmniBank and Sahel Sahara Bank

Ongoing takeovers:

First National Bank Ghana Limited (FNB) takes over GHL Bank

Voluntary liquidation:

Bank of Baroda (customers absorbed seamlessly by Stanbic Bank Ghana Limited)

Not recapitalised but no credible news yet:

  1. Bank of Africa Ghana (BoA) Limited


  1. GN Bank Limited
  2. Premium Bank Limited

Source: Graphic Online


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Kennedy Mornah is an Award Winning Ghanaian Journalist with over two decades of experience in the Ghanaian Media landscape spanning the electronic, print and digital media. He is a Media Consultant, a Corporate MC, Radio and TV Host, Founder and Publisher of the Maritime and Transport Digest Newspaper, Businessman, a Go getter and an optimist. He has worked for renowned media organizations including Diamond Fm in Tamale, Luv Fm in Kumasi, Oman Fm in Accra and Starr Fm in Accra In 2017 he received the Reporter of the Year Award at the Ghana Shippers Awards in Accra, Ghana.

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