UMB expresses optimism in meeting new capital requirement

The Universal Merchant Bank is confident it can reach whatever new capital the central bank will be introducing.

This comes as the Central Bank prepares to announce a new minimum capital for banks in order to strengthen the banking sector.

Speaking to JOY BUSINESS at banks 45th anniversary celebrations, the CEO of the bank John Awuah said, “we are happy to meet whatever capital requirement that will be thrown at as. As for meeting the new one, we are almost there although we don’t know the new amount that is coming out.

He said, “We are currently in far excess of the current regulatory capital and whatever comes out; we will have to top up just a little”

As to concerns of the bank merging incase there were challenges, Mr Awuah assured that the bank was in good standing but was however ready to go into talks with distressed banks to offer assistance.

He said, “The space for merging or acquisition is a broad space that everybody is watching and we want to ensure that we don’t want to combine for combining sake but whoever we bring to our fold will be a bank that is fit for purpose and will come to add to the value that we are creating.

UMB is an indigenous Ghanaian bank and specializes in customized banking products and services.