Construction Bank expected to fold up by Aug 31


Construction Bank expected to fold up by Aug 31


JoyBusiness has reliably been informed that Construction Bank is expected to fold up by the end of August 2018. 

Why?

Sources say the move has been influenced some challenges in meeting the new capital requirement of 400 million Ghana cedis by the close of this year.

JoyBusiness understands that a Board meeting held earlier this week finalized the decision to fold up.  

According to sources, communication has already been sent out to customers on how to pay back their deposits to them. 

JOYBUSINESS has learned there has been an arrangement in place to ensure that this action does not disrupt the banking sector.

Sources say the fold up has nothing to do with liquidity challenge or solvency, but just purely on shareholders decision, resulting in a regulatory action.

More soon…

 





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