Consolidated Bank Ghana Refutes Sale Rumours

Consolidated Bank Ghana Ltd (CBG) has denied reports circulating on social media claiming that the bank has been sold.

In a press statement, CBG emphasised that there has been no change in ownership and that the government of Ghana remains the sole shareholder.

The bank described the rumours of a sale as “entirely false and misleading,” urging the public not to be swayed by such misinformation.

CBG reassured its customers that there is no reason for concern regarding their deposits or the operational integrity of the bank.

The institution continues to provide exceptional service and innovative products, reinforcing its position as the preferred bank for small and medium enterprises (SMEs).

“We assure our cherished customers that their funds are secure with the bank, and we encourage the public to rely only on official communication channels for accurate information,” the statement read.

The bank’s management reiterated its appreciation for the loyalty and trust of its customers, reaffirming its commitment to delivering quality services.

Ministry of Finance

The Ministry of Finance on its part in another press statement said the CBG, as a policy bank, remains critical in government’s strategy of supporting indigenous businesses and the SME sector to spur economic growth.

It said over the past two years, government has taken steps to strengthen the bank’s capital to make it more resilient post the Domestic Debt Exchange Programme (DDEP) under the IMF supported Ghana Financial Sector Strengthening Strategy (GFSSS), as approved by Cabinet.

The ministry indicated that the support is to prevent the decimation of indigenous financial institutions and to preserve jobs.

“CBG therefore is in a sound financial position, and there is no cause for concern regarding the security of customers’ deposits or the bank’s operational integrity,” it added.

Read the entire statement below;

 

 

 Attached below is a copy of a statement issued by the Ministry of Finance

GOVERNMENT REFUTES ALLEGATIONS ON THE SALE OF CONSOLIDATED BANK GHANA (CBG)

 

 

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