BankingBusiness

BoG: We’ve recovered only 7% of total assets of collapsed banks

The Bank of Ghana (BoG) says total assets recovered from the collapsed banks is not very encouraging

The Bank of Ghana (BoG) says it has been able to recover about GHC1.7 billion from a total asset of GHC25 billion from the collapsed banks.

This is just about 7% of the total assets expected to be recovered from these banks.

Speaking at a press conference on Monday (31 April), Governor of the Bank of Ghana (BoG), Dr Ernest Addison said, “I have had a lot of data this morning …there’s a lot of detailed information on the recovery. GHC1.7 billion so far recovered, but you are looking at a total asset of over GHC25 billion.

“So If we’ve been only able to recover [this amount], just 7% of the work has been done. It’s not very encouraging and part of this problem again is what is going on in our courts. Things are not moving on as quickly as one would have expected,” Dr Addison added.

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