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January 2019

Recapitalisation to drive interest rates down

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The Managing Director and Chief Executive Officer (CEO) of Zenith Bank Ghana, Mr. Henry Oroh, has said that the recent recapitalisation exercise that has seen 23 banks increase their minimum stated capital to GHc400 million will increase competition in the industry which will subsequently drive interest rates down.

He said the recapitalisation exercise meant that every bank was now a big bank and ready to chase businesses that would ensure that their returns justifies the increase in capital.

That, he said, was good news for consumers who would benefit from the excess capital in the industry at a cheaper rate.

Mr. Oroh was speaking in an interview with the GRAPHIC BUSINESS on January 4. Read More