Business News of Friday, 17 January 2020Source: classfmonline.comCollapsed banks: Receivers take over GHS16.56bn loansGovernor of the Bank of Ghana (BoG), Dr. Ernest AddisonTotal loans taken over by the Receivers of the nine collapsed banks have amounted to GHS16.56 billion, the Governor of the Bank of Ghana, Dr Ernest Addison, has said. They were realised through loan repayments by customers, recovered investments, vehicle sales, and recovered incomes. The Governor said: “We expect that criminal behaviour, once established, will be prosecuted and the perpetrators brought to book. In the case of the failed banks, he said: “One thing was clear and that is: banks were set up overnight by little or no capital and by persons with little or no experience in running successful banks. The Ghana Deposit Protection Corporation (GDPC) is now fully operational, with all banks, savings, and loans companies, finance houses, microfinance companies, and rural and community banks, currently admitted as members of the scheme.

Source: GhanaWeb January 17, 2020 13:18 UTC