The Bank of Ghana (BoG) is considering extending the recapitalisation deadline for one bank that is currently struggling to meet the minimum capital requirements, Governor Dr. Ernest Addison has stated. This follows the regulator's directive for banks to recapitalise to a minimum of GHS 400 million by a set deadline.
Governor Addison, speaking at a recent press briefing, confirmed that while most banks are on track, one specific institution is facing challenges. He did not name the bank but emphasized that the central bank is assessing the situation and a potential extension is under review to ensure financial stability.
The recapitalisation exercise is part of broader reforms to strengthen Ghana's banking sector following past crises. The BoG has previously stated its commitment to a stable financial system but will not compromise on the core capital requirement.
Analysts note that any extension would be a temporary measure, and the bank in question would still need to raise the necessary capital. The central bank has not provided a specific timeline for its decision on the possible deadline extension.
