Shareholders of Ecobank Ghana Limited on Thursday approved, unanimously, a special resolution by the Board to increase the company’s stated capital up to GH¢100 million.
The move is primarily to enable Ecobank meet the Bank of Ghana’s December 2009 deadline for GH¢60 million Stated Capital for local banks, however, Board Chairman Tei Mensa Mante also explained that the bank projects increased competition in the banking sector for the coming years and the move will also enable Ecobank to execute bigger projects.
The objective will be met either through the transfer of the required sum from the company’s Income Surplus or by raising additional capital, and Mensa Mante assured shareholders that even though fine details of the process were yet to be finalised, a rights issue will not be ruled out.
According to the Board Chairman, 2007 proved a very successful year for the bank, as apart from maintaining its position as the 4th largest bank in Ghana; the bank consolidated its business and achieved good financial results.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
Latest Stories
-
4-year-old cured leper walks again after Bawumia sponsored her special surgery
1 hour -
Dorcas Affo-Toffey, earns dual Master’s Degrees in Energy, Sustainable Management, and Business Administration
1 hour -
T-bills auction: Government got GH¢21.5bn in November 2024, lower than target
5 hours -
Ghana to return to single digit inflation in quarter one 2026
5 hours -
Panama’s president calls Trump’s Chinese canal claim ‘nonsense’
6 hours -
Manmohan Singh, Indian ex-PM and architect of economic reform, dies at 92
6 hours -
Government is not been fair to WAEC – Clement Apaak on delay to release WASSCE results
6 hours -
Bayer Leverkusen’s Jeremie Frimpong donates to Osu Children’s Home in Ghana
9 hours -
GPL 2024/25: Heart of Lions beat Young Apostles to go three points clear
9 hours -
Dance battles, musical chairs light up Joy FM Party in the Park
10 hours -
Kwabena Kwabena, Camidoh, Kwan Pa Band, others rock Joy FM Family Party in the Park
10 hours -
GPL 2024/2025: Aduana beat struggling Legon Cities
10 hours -
GPL 2024/25: Bechem United fail to honor match against Holy Stars
10 hours -
Cooking competition takes centrestage at Joy FM Family Party In The Park
11 hours -
Album review: ‘Wonder’ by Nana Fredua-Agyeman Jnr
13 hours