ADB to raise GH¢127 million to meet BoG minimum capital requirement

ADB shareholders have given the go -ahead to allow the bank to raise GH¢127 million to enable it to meet the Bank of Ghana minimum capital requirement.

This will be made through the private placement of shares with the Ghana Amalgamated Trust PLC which has been mandated to assist some five commercial banks to meet the GH¢400 million minimum capital.

Although the bank met the minimum capital requirement in December last year, provisions for some previous losses affected the bank’s financial position.

This led to its capital dropping to 258 million cedis. But the Board Chairman of ADB, Alex Bernasko speaking at the bank’s AGM on Wednesday said he is hopeful of the bank’s prospects going forward.

ADB Annual General Meeting

“The outlook of the coming years is bright as we commit to staying on track with our five years strategic plan.

The need to mobilize more deposits, book quality loans and to recover the non-performing loans cannot be overemphasized. Please permit me to use this opportunity to thank the former board members for their invaluable service to the bank and to render our warm wishes to them in their endeavors in the future.

ALSO READ: ADB staff outline why ADB should not be merged with NIB

Members, let me concede that ADB has a huge responsibility to its customers and the general public to render excellent customer services and become the most preferred banking partner and as a board, management and staff; we promise that we shall be equal to the task,” Mr. Bernasko said.

Credit: Citi News

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Henry Cobblah

Henry Cobblah is a Tech Developer, Entrepreneur, and a Journalist. With over 15 Years of experience in the digital media industry, he writes for over 7 media agencies and shows up for TV and Radio discussions on Technology, Sports and Startup Discussions.

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