Another bank has received direct sanctions from the central bank, making Unibank, which is still licking its wounds from last year's sanctions on the two banks (It was adjudged the 6th best performing company in Ghana at the Ghana Club 100 awards in 2017). As of March 20, 2017, the country's Central Bank mandated and allowed the management of Unibank, a privately owned bank, to be dissolved and taken over by KPMG. Interestingly!
Bank of Ghana needs to clean up its act right now. It is completely unacceptable to oversee an area in which a player is ranked sixth best only for it to be claimed that some crucial information was being withheld. Although the bank has consistently maintained a capital adequacy level ratio near to zero, which agreeably might literally imply Unibank is insolvent, the Central Bank has its defense against the action against Unibank. According to Central Bank reports, the bank instructed Unibank to stop making any new loans to customers; nonetheless, the bank disobeyed the order and kept making new loans. Additionally, Unibank received a directive to stop making any further capital investments; however, Unibank disregarded the directive and violated section 105 of Act 930.
If one were to look at Unibank's banking activities over the years from a distance, it is clear that the bank has been creative. As a result, the Central Bank and KPMG's recommendations for the bank should preserve the bank's positive employee-customer culture, which is clearly ""vibrating"" among its customers. Many of Unibank's clients are traders, and they are among its most devoted patrons. Therefore, Bank of Ghana should steer Unibank, taking into account the brand that already exists and identifying the straightforward strategies to resuscitate the bank.
Having stated that, Ghana cannot support as many Universal banks as it does. A limit should be placed on the amount since 26 million people and nearly 40 banks are definitely too many. Building existing banks' capacity to """"branch out"""" to clients is what must be done. There are two methods to accomplish this: by bringing physical infrastructure and digital (Online/Mobile banking) infrastructure closer to users. Currently operating banks should be focused on enhancing customer service, extending digital banking options, and enhancing banking security.
To be clear, though, I am in no way opposed to banks being registered. In fact, my attitude is the exact opposite because I am aware of how important financial services are to both individuals and the economy as a whole. My viewpoint will appear to be the contrary. My opinion is that it would be better to resource current banks to increase their capabilities rather than registering new ones, some of which operate a small number of branches without any superior services or infrastructures.
Finally, as the financial industry becomes more competitive in the coming years and especially now that the Central Bank has increased the minimum capital requirement for banks to 400 million Ghana Cedis, which will take effect in December 2018, some of these financial institutions may need to consider merging if there is any chance of remaining profitable in business and providing customers with standards.""" - https://www.affordablecebu.com/
