Unibank Ghana has now joined the first list of the country’s commercial banks to meet the new minimum capital requirement.
The bank has secured over GH¢600million of additional capital from some of its investors.
According to information made available to the media, the fresh capital injection is from Belstar Capital, an international project finance and investment institution.
Unibank’s capital base is on the injection of the new funds expected to reach at least GH¢1billion – far above the minimum GH¢400 million set by the Bank of Ghana (BoG).
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Prior to the disclosure, UniBank held stocks/shareholders-based capital (paid-up capital) of about GH¢310million as well as an estimated income surplus of GH¢52million – which left the bank with barely GH¢38million to meet the BoG’s new minimum capital.
However, while all may seem green for the likes of Unibank who have met the new requirement, there has been growing tension across the entire banking industry following the announcement of the new capital requirement by the central bank.
Earlier, the Bank of Ghana governor, Ernest Addison had to reassure the banking sector players and the general public of the BoG’s readiness to open its arms to any commercial bank in the country who approaches it for help in the recapitalization process.