Business News of Saturday, 5 May 2018Source: citinewsroom.comBoG’s appointment of adviser for Sovereign Bank ‘proactive’ – AnalystBoG Governor, Dr. Ernest AddisonA financial analyst, Toma Imihere has lauded the efforts of the Bank of Ghana (BoG) to save Sovereign Bank Limited from total collapse by appointing an adviser for the bank, describing the move as proactive. It has seen the potential for it going the way of the other banks, UT, Capital Bank. You can trace that to UT bank, Capital Bank and UniBank along with several other banks to this problem.”The Bank of Ghana on Friday announced that it had appointed an adviser for Sovereign Bank Limited to oversee its operations. It explained in a statement that it made the appointment due to some governance and capital challenges the bank is battling with. ‘Not exempted from the minimum capital requirement’Meanwhile, Toma Imihere has suggested that Central Bank’s appointment of an adviser for the Sovereign Bank Limited does not exempt it from meeting the BoG’s minimum capital requirements.

Source: GhanaWeb May 05, 2018 08:26 UTC