BoG collapses 5 banks into Consolidated Bank Ghana Ltd-Full Report

Add captionDr Ernest Addison - Governor of the Bank of Ghana

The Bank of Ghana (BoG), has revoked the licenses of five indigenous banks.

The banks are Royal Bank Limited, Beige Bank Limited, uniBank Ghana Limited, Sovereign Bank Limited and Construction Bank Limited.

A statement released by BoG assures customers of the affected banks that all deposits of the five banks are safe and have been transferred into the 'Consolidated Bank Ghana Limited' which was established by the Government and granted a universal banking licence today (August 1).

The statement says customers can carry out their business as usual at their respective banks which will now become branches of the Consolidated Bank.