DOCSLIB.ORG

System Enhancement Guide

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
System Enhancement Guide System Enhancement Guide NEXTLEVEL Coming March 9th, 2020 NEXTLEVEL Contents Leadership Letter ....................................................... 3 System Enhancement ..............................................4 Online Banking ........................................................... 6 Bill Pay ............................................................................ 8 Mobile Banking .........................................................10 ATM and Debit Cards ............................................. 12 Telephone Banking ..................................................14 Statements and eStatements ............................... 16 Personal Accounts ................................................... 18 Business & Municipal Accounts ........................20 Loans ..............................................................................22 Transactions ................................................................24 Transactions (continued) ..................................................26 Fee Schedule — Personal Accounts ..................28 Frequently Asked Questions ..............................30 Branch Offices............................................................32 2 NEXTLEVEL Dear UniBank Customer, We know you have many banking options, so we thank you for choosing UniBank. We continually strive to improve your banking experience, whether you bank in person, online, over the phone, or with a mobile device. During the weekend of March 7, 2020, we will be enhancing our systems* to offer you more accessibility, greater convenience, and faster service. Our system enhancements will feature: ^ A consistent, streamlined experience across online, mobile, and tablet banking platforms ^ Easy-to-read monthly statements with helpful summaries ^ Additional online and mobile self-service capabilities The following guide provides important information and dates to make this enhancement seamless. Please take a moment to familiarize yourself with the information that applies to your accounts. Please visit unibank.com/system-enhancements for additional information, or contact us at 800.578.4270. You can also stop by your local branch. We greatly appreciate your business and look forward to continuing to provide you with the best possible banking experience. Michael W. Welch Christopher D. Foley Justine M. DeNorscia Chief Executive Officer President Executive Vice President * UniPay Customers: Our UniPay payment system and availability of services will not be affected by these enhancements. 3 NEXTLEVEL System Enhancement Your Calendar at a Glance March 2, 2020 – Debit Card Instant Issuance will be unavailable. March 9, 2020 Between now and Your Contact Information – If you are an Online Banking user, March 6th, 2020 be sure your contact information is up to date. It will be used to authenticate your login after the system enhancement. (see page 6) Pre-Registration for Online Banking – Before Wednesday, March 4, 2020 you will receive an email to pre-register for Online Banking. The purpose of pre-registration is to make accessing your Online Banking account easy on the day we change over to the enhanced system. March 6, 2020 Branch Offices — Closing at 5:00 p.m. Whitinsville Plaza will close at 2:00 p.m. as usual. March 7, 2020 Branch Offices – Closed Saturday, March 7, 2020. March 6, 2020 — Online Banking will be unavailable from Friday, March 6, 2020 at March 9, 2020 4:00 p.m. through Monday, March 9, 2020. Bill Pay will be unavailable from Friday, March 6, 2020 at 4:00 p.m. through Monday, March 9, 2020. (see page 8) The Mobile Banking App will be unavailable from Friday, March 6, 2020 at 4:00 p.m. to Monday, March 9, 2020. (see page 10) March 7, 2020 — ATM and Debit Cards – ATMs will remain in service, but may experience March 9, 2020 intermittent outages. You can continue to make withdrawals at ATMs and purchases with your debit card. (see page 12) March 9, 2020 Your Online Banking ID is not changing. (see page 6) Online Banking Password – If you pre-registered by March 4, 2020 you will be able to log in with the new security profile you created. If you did not pre-register, you will be required to reset your password and enter a temporary password the first time you log in to Online Banking. The temporary password will be the last 4 digits of your social and your zip code. (see page 6) Mobile Banking App – Depending on your mobile phone settings, you may need to go to the Apple App Store or Google Play Store and update the UniBank App. (see page 10) Telephone Banking – Your PIN will be reset and menus will change. (see page 14) Statements and eStatements – You will receive enhanced statements at month-end. (see page 16) Transactions – Debits and credits will post to your account in the order in which they are presented to the Bank. (see page 24) 4 NEXTLEVEL We are enhancing our systems to make your banking experience easier, faster, and more convenient than ever! Questions? Contact Customer Support at 800.578.4270 Visit unibank.com/system-enhancements Visit your local branch office 5 NEXTLEVEL Online Banking When you log in to Online Banking after the system enhancement, you will notice a different look and feel. You will still be able to do your banking the same as you normally do. What you need to know Availability During Online Banking and Bill Pay will be unavailable the Enhancement beginning Friday, March 6, 2020 at 4:00 p.m. through Monday, March 9, 2020. Your Contact Prior to Friday, March 6, 2020 at 4:00 p.m. you should Information check to see if your contact information is up to date. It will be used to authenticate your login after the system enhancement. You may update your email address while logged into Online Banking. To update your telephone number(s), visit one of our branch locations or call the Customer Contact Center at 800.578.4270. Pre-Registration Before Wednesday, March 4, 2020 you will receive an email Info with detailed information on how to pre-register. You will be provided with a link to access the Pre-Registration site. User ID Your Online Banking ID will remain the same. Password The first time you log in to Online Banking after the system enhancement you will use your Online Banking ID and the password you created during pre-registration. If you don’t pre-register: Your personal password will be the last 4 digits of your SSN combined with your zip code. (Business password will be the last 4 digits of your TIN combined with your business zip code.) Personal Image You will no longer have a personal image. With our new updated security features, you will be prompted to establish new security questions. Note: You may be prompted to answer these new questions the next few times you login. Scheduled Scheduled and recurring transfers will not change. Transfers My Finance If you are currently using My Finance you will need to re-establish your account setting and payment categories. Cash Management ACH, Wire Transfers, Positive Pay and Remote Deposit services Services will all be conveniently accessed through Online Banking. ACTION REQUIRED or EXTRA IMPORTANT 6 NEXTLEVEL 7 NEXTLEVEL Bill Pay What you need to know Bill Pay You should download your Bill Pay history prior to March 6, 2020. If you have “Pay a Person” established in the current system, you will need to re-establish these payees in the Transfer tab with their routing number and account number. eBills will also need to be re-established. Bill Payments If you normally pay your bills on the weekend, please remember that Bill Pay will not be available during the system enhancement beginning on Friday, March 6, 2020 at 4:00 p.m. through March 9, 2020. We recommend you make your payments prior to 1:00 p.m. on Friday, March 6, 2020. Recurring payments that are scheduled to process during our system enhancements will be processed as scheduled. If you have payments scheduled to be delivered March 10-March 13, 2020, we recommend you reschedule those payments to March 9, 2020 to avoid potential late deliveries. History Bill Pay history will not be available after the system enhancements. You will still be able to view the transactions in your Online Banking transaction history. ACTION REQUIRED or EXTRA IMPORTANT 8 NEXTLEVEL 9 NEXTLEVEL Mobile Banking The updated version of our App will be available after the system enhancement on March 9, 2020. The updated Mobile Banking App should automatically update. If updates don’t occur automatically, you can update the App by visiting the App Store on your device and manually updating the UniBank App. Here are some exciting new features Our Mobile Banking App is a great way of our updated App: to access your accounts wherever you are. It’s safe, secure, and convenient. ^ New User Registration — you no longer have to register within Online ^ View balances and transaction Banking first to use our App. history for both deposit and loan accounts. ^ Manage your debit card — you can now temporarily deactivate or ^ Pay bills. activate your debit card at any time. ^ Make transfers between accounts This allows you the ability to protect and make loan payments. your deposit account(s) linked to your debit card. ^ Locate UniBank ATMs and branch locations. ^ Fast balances — you can “touch” for a fast balance, plus the last 5 ^ View and manage personal alerts. transactions for any account you ^ Contact Customer Support. select, without having to log into Make deposits using mobile deposit. the App (requires setup). ^ ^ Business users with appropriate ^ Reset password — you can reset your
Load more

Recommended publications
  • The Determinants of Bank's Profitability in Ghana, The
    The Determinants of Bank’s Profitability in Ghana, The Case of Merchant Bank Ghana Limited (MBG) and Ghana Commercial Bank (GCB) By Anthony Kofi Krakah & Aaron Ameyaw Henrik Sällberg (Supervisor) Master’s Thesis in Business Administration, MBA programme 2010 Table of Contents Table of Contents ............................................................................................................................................ i ABSTRACT ...................................................................................................................................................... v ACKNOWLEDGEMENT ........................................................................................................................................ vi CHAPTER ONE ............................................................................................................................................... 1 1.0 INTRODUCTION ...................................................................................................................................... 1 An overview of the banking industry in Ghana ..................................................................................................... 3 1.2 Background of the banks ......................................................................................................................... 6 Global Banking Industry .................................................................................................................. 12 Statement of the problem ..........................................................................................................................
    [Show full text]
  • RESTRICTED WT/TPR/S/298 16 April 2014 (14-2369) Page
    RESTRICTED WT/TPR/S/298 16 April 2014 (14-2369) Page: 1/105 Trade Policy Review Body TRADE POLICY REVIEW REPORT BY THE SECRETARIAT GHANA This report, prepared for the fourth Trade Policy Review of Ghana, has been drawn up by the WTO Secretariat on its own responsibility. The Secretariat has, as required by the Agreement establishing the Trade Policy Review Mechanism (Annex 3 of the Marrakesh Agreement Establishing the World Trade Organization), sought clarification from Ghana on its trade policies and practices. Any technical questions arising from this report may be addressed to Jacques Degbelo (tel.: 022 739 5583) and Catherine Hennis-Pierre (tel.: 022 739 5640). Document WT/TPR/G/298 contains the policy statement submitted by Ghana. Note: This report is subject to restricted circulation and press embargo until the end of the first session of the meeting of the Trade Policy Review Body on Ghana. This report was drafted in English. WT/TPR/S/298 • Ghana - 2 - CONTENTS SUMMARY ........................................................................................................................ 7 1 ECONOMIC ENVIRONMENT ........................................................................................ 10 1.1 Major Features of the Economy .................................................................................. 10 1.2 Recent Economic Developments.................................................................................. 13 1.3 Developments in Trade and Foreign Direct Investment ..................................................
    [Show full text]
  • Annual Report 1998 Unidanmark Unibank Contents
    Annual Report 1998 Unidanmark Unibank Contents Summary . 6 Financial review . 8 The Danish economy . 14 Business description . 15 Retail Banking . 15 Corporate Banking . 21 Markets . 23 Investment Banking . 25 Risk management . 26 Capital resources . 33 Employees . 35 Management and organisation . 37 Accounts Accounting policies . 42 The Unidanmark Group . 44 Unidanmark A/S . 50 Unibank A/S . 55 Notes . 59 Unidanmark’s Local Boards of Shareholders . 84 Unibank’s Business Forum . 85 Branches in Denmark . 86 International directory . 88 Notice of meeting . 90 Management Supervisory Board of Unidanmark Jørgen Høeg Pedersen (Chairman) Holger Klindt Andersen Laurids Caspersen Boisen Lene Haulrik* Steffen Hvidt* Povl Høier Mogens Hugo Jørgensen Brita Kierrumgaard* Kent Petersen* Mogens Petersen Keld Sengeløv * Appointed by employees Executive Board of Unidanmark Thorleif Krarup Supervisory Board of Unibank Unibank’s Supervisory Board has the same members as the Supervisory Board of Unidanmark. In addition, as required by Danish banking legisla- tion, the Danish Minister of Business and Industry has appointed one mem- ber of the Supervisory Board of Unibank, Mr Kai Kristensen. Executive Board of Unibank Thorleif Krarup (Chairman) Peter Schütze (Deputy Chairman) Christian Clausen Jørn Kristian Jensen Peter Lybecker Henrik Mogensen Vision We are a leading financial services company in Denmark with a prominent position in the Nordic market. We ensure our shareholders a return in line with the return of the best among comparable Nordic financial services companies. Through our customer focus, efficient business processes and technology we create customer satisfaction and attract new customers. This confirms the customers in their choice of bank. Unibank is an attractive workplace where team spirit and customer focus are important criteria for individual success.
    [Show full text]
  • DRAFT Bofa CRA PE
    PUBLIC DISCLOSURE September 14, 2020 COMMUNITY REINVESTMENT ACT PERFORMANCE EVALUATION UniBank for Savings Certificate Number: 90290 49 Church Street Whitinsville, Massachusetts 01588 Division of Banks Federal Deposit Insurance Corporation 1000 Washington Street, 10th Floor 350 Fifth Avenue, Suite 1200 Boston, Massachusetts 02118 New York, New York 10118 This document is an evaluation of this institution’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with safe and sound operation of the institution. This evaluation is not, nor should it be construed as, an assessment of the financial condition of this institution. The rating assigned to this institution does not represent an analysis, conclusion, or opinion of the Division of Banks or the Federal Deposit Insurance Corporation concerning the safety and soundness of this financial institution. TABLE OF CONTENTS Institution Rating Overall Rating ......................................................................................................................1 Performance Test Ratings Table .........................................................................................1 Summary of Major Factors Supporting Rating ....................................................................1 Institution Scope of Evaluation .............................................................................................................3 Description of Institution .....................................................................................................5
    [Show full text]
  • 2012-Edition-GC100-Directory.Pdf
    2012 2012 DIRECTORY DIRECTORY NAME OF COMPANY BUSINESS CATEGORY LOCATION ADDRESS TELEPHONE FAX/E-MAIL/WEBSITE CONTACT PERSON TITLE 7 Dr. Amilcar Cabral Road, Accra (233-302) 770189/90/91 “(233-302) 770187 1 Abosso GoldFields Limited Mining Institution Airport Residential Area P. O. Box KA 30742 www.goldfields.co.za” Alfred Baku Managing Director Accra Banking Services [email protected] Head, Corporate 2 Acces Bank (Ghana) (Commercial & Merchant) “Starlets ‘91 Road “P. O. Box GP 353 Osu- Accra” (233-302) 684860 / 742699 www.accessbankplc.com/gh Matilda Asante-Aseidu Communications (233-302) 2688960 3 Accra Brewery Manufacturing - Beverages Opp. Ohene Djan Staduim” P. O. Box GP351 (233-302) 688851-6 [email protected] Gregory Metcalf Managing Director www.sabmiller.com (233-302) 685176 4 Activa International Insurance Company Non-Banking-Insurance Graphic Road, Adabraka PMB KA 85 (233-32) 686352 / 672145 [email protected] Limited www.group-activa.com “P. O. Box 35 Banking Service-Rural & 3rd Floor Heritage Tower, 6th Ave. West (233-322) 420926 / 90099 Lucy Opoku-Arthur Ag General Manager 5 Adansi Rural Bank Limited Community Banking Ridge, Accra Fomena-Adansi” Banking Services-Rural & 6 Adonten Community Bank Limited Community Banking Head Office: Fomena - Adansi P.O.Box 140 3420-24109/027-895636/027-7609343 3420-26780 [email protected] Mr.Francis Mensah Senior Manager Banking Services-Rural & 7 Ahantaman Rural Bank Limited Community Banking New Tafo, Akyem, Eastern Region P. O. Box 41, Ahanta (233-312) 23431 / 21016 (233-312)29116 David Bampoe General Manager Banking Services-Rural & 8 Amanano Rural Bank Limited Community Banking Agona Ahanta,Western Region P.
    [Show full text]
  • Investment Test
    PUBLIC DISCLOSURE December 15, 2014 COMMUNITY REINVESTMENT ACT PERFORMANCE EVALUATION UniBank for Savings Certificate # 90290 49 Church Street Whitinsville, MA 01588 Division of Banks Federal Deposit Insurance Corporation 1000 Washington Street, 10th Floor 350 Fifth Avenue, Suite 1200 Boston, Massachusetts 02118 New York, New York 10118 NOTE: This document is an evaluation of the institution’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with safe and sound operations of the institution. This evaluation is not, nor should it be construed as, an assessment of the financial condition of this institution. The rating assigned to this institution does not represent an analysis, conclusion or opinion of the Division of Banks or the Federal Deposit Insurance Corporation concerning the safety and soundness of this financial institution. TABLE OF CONTENTS I. General Information ................................................................................................................. 1 II. Institution Rating A. Overall Rating ...................................................................................................................... 2 B. Performance Test Ratings Table .......................................................................................... 2 C. Summary of Major Factors Supporting Rating.................................................................... 2 III. Institution A. Description of Institution ....................................................................................................
    [Show full text]
  • THE REPUBLIC of GHANA Global Medium Term Note Programme
    THE REPUBLIC OF GHANA Global Medium Term Note Programme Under this Global Medium Term Note Programme (the “Programme”), the Republic of Ghana (the “Issuer”) may from time to time issue notes (the “Notes”) denominated in any currency agreed between the Issuer and the relevant Dealer (as defined below). Notes may be issued in bearer or registered form (respectively “Bearer Notes” and “Registered Notes”). The Notes may be issued on a continuing basis to one or more of the Dealers specified under “Overview of the Programme” and any additional Dealer appointed under the Programme from time to time by the Issuer (each a “Dealer” and together the “Dealers”), which appointment may be for a specific issue or on an ongoing basis. References in this Base Prospectus to the “relevant Dealer” shall, in the case of an issue of Notes being (or intended to be) subscribed by more than one Dealer, be to all Dealers agreeing to subscribe such Notes. An investment in Notes issued under the Programme involves certain risks. For a discussion of these risks see “Risk Factors”. This Base Prospectus has been approved as a base prospectus by the Financial Conduct Authority (the "FCA") as competent authority under Regulation (EU) 2017/1129 (the "Prospectus Regulation"). The FCA only approves this Base Prospectus as meeting the standards of completeness, comprehensibility and consistency imposed by the Prospectus Regulation. Approval by the FCA should not be considered as an endorsement of the Issuer or of the quality of the Notes that are the subject of this Base Prospectus. Investors should make their own assessment as to the suitability of the Notes.
    [Show full text]
  • School Management System
    University of Ghana http://ugspace.ug.edu.gh UNIVERSITY OF GHANA BUSINESS SCHOOL SCHOOL MANAGEMENT SYSTEM THE EFFECT OF BANKING CRISES ON EMPLOYEES IN GHANA: THE CASE OF CONSOLIDATED BANK GHANA BY MR. STEVE HANSFORD QUANSAH (10702450) A PROJECT WORK SUBMITTED TO THE DEPARTMENT OF FINANCE, UNIVERSITY OF GHANA BUSINESS SCHOOL, UNIVERSITY OF GHANA, LEGON, IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF A DEGREE IN MSC DEVELOPMENT FINANCE JULY 2019 1 University of Ghana http://ugspace.ug.edu.gh DECLARATION I hereby declare that the thesis entitled “The Effect Of Banking Crises On Employees In Ghana: The Case Of Consolidated Bank Ghana” is the result of my original work under the research supervision of Prof. Godfred A. Bokpin, Department of Finance, University of Ghana Business School, and has not been presented in any other university or college or institution for examination or academic purposes, and that all works cited herein have been duly acknowledged. I am solely responsible for any shortcomings this research work may have. ……………………………...................... …………………………… MR. STEVE HANSFORD QUANSAH DATE i University of Ghana http://ugspace.ug.edu.gh CERTIFICATION I hereby certify that this study was supervised in accordance with procedures established by the University. This project work has been submitted for examination with my consent. …………………………… …………………………… PROF. GODFRED A. BOKPIN DATE SUPERVISOR ii University of Ghana http://ugspace.ug.edu.gh DEDICATION I dedicate this thesis to my family for their prayers, love, relentless support, patience, encouragement and understanding throughout this programme. iii University of Ghana http://ugspace.ug.edu.gh ACKNOWLEDGEMENTS My deepest appreciation goes to the Lord Almighty for the strength and wisdom to complete this study.
    [Show full text]
  • Communicating with Informal Sector Clients: a Study of Strategies Employed by Ghana Commercial Bank and Unibank Ghana Limited
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Redfame Publishing: E-Journals Studies in Media and Communication Vol. 4, No. 1; June 2016 ISSN 2325-8071 E-ISSN 2325-808X Published by Redfame Publishing URL: http://smc.redfame.com Communicating with Informal Sector Clients: A study of Strategies Employed by Ghana Commercial Bank and Unibank Ghana Limited Denise D. Duncan Correspondence: Department of Communications Studies, Central University College, Ghana Received: April 22, 2015 Accepted: May 13, 2015 Online Published: January 22, 2016 doi:10.11114/smc.v4i1.1329 URL: http://dx.doi.org/10.11114/smc.v4i1.1329 Abstract Even though theoretical evidence exists that tells of the need for effective communication between banks and their informal sector clients, little seems to be understood about the exact nature of communication between the two. Guided by the two-way symmetrical model and the communication accommodation theory this study set out to identify the communication strategies used by Ghana Commercial Bank and Unibank Ghana Limited in communicating with their informal sector clients in building mutually beneficial relationships. The objective was to identify and describe the specific communication strategies used by Ghana Commercial Bank and Unibank Ghana Limited to communicate with those clients. The study employed the in-depth interview method in gathering data as well as documentary analysis. The study found that the communication strategies employed by the two banks included using relationship managers as well as employing the technique of code-switching or using languages the client understood when communicating with the informal sector clients.
    [Show full text]
  • Press Release
    PRESS RELEASE GOVERNMENT ESTABLISHES NEW INDIGENOUS BANK; BANK OF GHANA REVOKES LICENCES OF FIVE BANKS AND APPOINTS RECEIVER IN RESPECT OF THEIR ASSETS AND LIABILITIES The Bank of Ghana today has granted a universal banking licence to Consolidated Bank Ghana Limited established by the Government. The Bank of Ghana has also today revoked the licences of uniBank Ghana Limited, The Royal Bank Limited, Beige Bank Limited, Sovereign Bank Limited, and Construction Bank Limited and has appointed Mr. Nii Amanor Dodoo of KPMG as the Receiver for the five banks. All deposits of the five banks are safe and have been transferred to the Consolidated Bank. Customers can carry out their business as usual at their respective banks which will now become branches of the Consolidated Bank. All staff of these banks will become staff of the Consolidated Bank. Boards of Directors and shareholders of these banks no longer have any roles. Ghana needs a strong and stable banking sector to drive the process of economic transformation. A weak banking sector means that access to credit will be limited while lending rates will continue to be high. The Bank of Ghana is mandated by law to promote the safety, soundness, and stability of the financial system and to protect the interests of depositors. In this context, the Bank has over the last year rolled out measures to strengthen the financial system to protect the interests of depositors however, a number of legacy problems have plagued the banking sector including macroeconomic factors, poor corporate governance and risk management practices, related party transactions that were not above board, regulatory non-compliance, and poor supervision, (questionable licensing processes and weak enforcement) leading to a significant build-up of vulnerabilities in the sector.
    [Show full text]
  • First National Bank Ghana
    First National Bank Online Banking Enterprise™ - Payment Cut-Off Times Direct Payment Express Payment Instant Payment Service Service Service Service Anytime during the day Monday - Friday Anytime (including Saturdays, Sundays within the allowed cut-off and Public Holidays) processing times. In accordance with the cut-off Submission times below. Payments submitted after the cut-off times below will be processed on the next business day. Monday to Friday To First National Bank: To Participating Banks n/a No cut-off time between 09h15 and 11h35 Cut-off To other banks: 09h00 - Times 18h00 Saturdays, Sundays and Public Holidays Payments to both First National Bank and to other banks will n/a only be submitted for processing on the next business day. Any payment processed to a Any payment processed to a Participating Any payment authorised Bank through the Instant Payment service and fully processed to a Participating Bank through the Express service type within the type will be cleared within 1 minute of it Participating Bank being authorised and fully processed on Clearing allowed cut-off processing through the Direct the same day. Times: Payment service type times will be cleared within 6 within the allowed cut-off hours of it being authorised and processing times will be fully processed on the same cleared on the next day. business day. Express payments are Instant payments are posted to the posted to the recipient’s recipient’s account on the same business All payments are posted account on the same day. to the recipient’s account business day. on the next business day.
    [Show full text]
  • Ghana-Banking-Survey-2019.Pdf
    Banking reforms so far: topmost issues on the minds of bank CEOs August 2019 www.pwc.com/gh Table of contents CSP’s message 2 GAB CEO’s message 4 Tax Leader’s message 5 1 Economy of Ghana 7 2 Survey analysis 12 3 Banking industry overview 35 4 Total operating assets 39 5 Market share analysis 44 6 Profitability and efficiency 56 7 Return to shareholders 64 8 Liquidity 69 9 Asset quality 79 Appendices 84 PwC 2019 Ghana Banking Survey 1 CSP’s message their banks thus far, as well as the those related to the new minimum challenges and opportunities that capital requirement: they foresee. ࡟ Heritage Bank Limited (HBL) and Highlights of the Premium Bank Ghana Limited (PBG) had their licences revoked. banking sector The reasons provided by BoG for the revocation of their licences reforms were insolvency in the case of Perhaps, one of the most significant Premium bank and questionable components of the banking sector source of capital for Heritage reforms is the new minimum capital bank. directive issued on 11 September ࡟ Bank of Baroda (BoB) “closed 2017. The directive required shop” and exited the market on universal banks operating in Ghana their own volition also for reasons Vish Ashiagbor to increase their minimum stated related to the new minimum capital to GHS400 million by the capital requirement. Country Senior Partner end of 2018. ࡟ BoG approved three mergers Following the deadline for involving six banks, effectively Background to this compliance, the changes in the accounting for three more exits. year’s survey banking sector have largely gone in The approved mergers are: 1.
    [Show full text]