Consolidated bank to close down 98 branches

By Clement Edward Kumsah
Bank

The newly-created Consolidated Bank Ghana Limited (CBG) will be closing down 98 of its 191 inherited branches and keeping 93, Chairman of Parliament’s Finance Committee, Dr Mark Asibey-Yeboah, has said.

Briefing the media after Day 2 of the committee’s in-camera hearing at which it met with CBG officials, Dr. Asibey-Yeboah said although the management of CBG is certain of which branches it will close down, the number of jobs to be lost are yet to be determined.

We asked the question about the number of jobs they will cut, and they said they are still in the process of rationalising the platform they want to use, and that will determine where they will go. What we had from them was the number of branches they will close down.

“As of now, they have 191, and they have come to the determination that they will keep 93, but beyond that, we do not have the number of jobs that will be lost”, he said.

The government of Ghana, since August 2017, has rescued seven struggling local banks with GHS8billion of taxpayers’ money.