Increase in deposits in banks – BoG

Company News of Friday, March 29, 2019

Source: starrfm.com.gh

2019-03-29

The Bank of Ghana has revealed that the level of deposits in banks is increasing as a result of the reforms put in place to clean up the financial sector.

The Bank of Ghana, in order to clean up the country's banking sector, reduced the number of its banks from 34 to 23, following an increase in the minimum capital requirement.

In the first edition of the GIPC Director General's Breakfast in Accra on Friday, Bank Supervision Manager Osei Gyasi described the move as a sign of confidence in the sector.

He said, "We have seen people take their money out of the banks because of what has happened. But the available returns we have received recently indicate that bank deposits are increasing. It is a question of trust, it means that people have now adhered to the reforms implemented so far. "

"Besides, the woman" Makola ", the kayayei, the official, my mother, your children, your parents, the old lady, the old man thinks that the banks that have survived, are out reforms, are able to maintain and maintain the deposits they made available to these banks. Deposit levels are increasing, "he added.

But a former president of the AGI, James Asare Adjei, has disputed the latest statements from the Central Bank.