The names of individuals and companies have been published as the first batch of defaulters in state newspaper The Ghanaian Times.
The individuals and entities have been indebted to the Beige bank between 2013 and 2017.
Some of the companies listed include Agro Africa, Cargo Centre Limited and Boafoa SK travel.
The receiver has asked the defaulters to rectify the information.
Beige Bank, which was said to have obtained a banking licence falsely, was one of seven collapsed banks taken over by the state in last six months.
Meanwhile, the receiver has attributed the bank’s high loan portfolio to inadequacies in its recovery efforts.
An inventory asset and property report filed by the receiver to the Bank of Ghana revealed that Beige Bank had total assets of GHc 494 million.
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An inventory asset and property report filed by the receiver to the Bank of Ghana revealed that Beige Bank had total assets of GHc 494 million.
Out of the figure, GHc 282 million, representing 57% were loans and securities. According to the report, the bank gave an amount of GHc 274 million, constituting 31% of the loans to related parties.
The receiver said Beige bank did not adhere to credit administration policies and had inadequacies in recovery efforts.
The report also revealed that Unibank, on the other hand, had a total asset of GHc2.2 billion. Loans and other securities constituting 82% of the total assets of the Bank.
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Most of the bank’s debtors were in the construction sector owing GHc 934.3 million.
According to the receiver, Unibank’s overall net liability of GHc 7.2 billion as at August 1, 2018, was accumulated losses from operations, a deterioration in the Bank’s asset quality and money given to related and connected parties.
Royal Bank had an asset of GHc 376 million. Out of this, loans and other securities constituted 56% of the bank’s total assets.
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