NAARA RURAL BANK EXCEEDS B.O.G CAPITAL REQUIREMENT 29th February, 2020
The Naara Rural Bank [NRB] Ltd., established in 1981 in Paga in the Kassena-Nankana West District of the Upper East Region, has exceeded the Bank of Ghana’s 1,000,000.00 Ghana Cedi Minimum Capital Requirement by a little over an extra one million Ghana Cedis. The Bank of Ghana is mandated under the Banks and Specialised Deposit-Taking Institutions Act - Act 930, 2016 to fix a minimum capital requirement at stipulated time frames for banks operating in the country. Mr. Robert Simple Atiiru, the Board Chairman giving hid report Board Chairman of the bank, Mr. Robert Simple Atiiru in his report at the 29 th Annual General Meeting held in Navrongo over the weekend, disclosed this enviable feat chalked by the bank. In the report spanning the period 2017-2018, he stated this with joy, “distinguished shareholders, our bank ended the year with the Stated Capital of 2,067,736.00 Ghana Cedis which exceeded the threshold of the minimum capital requirement of GHC1,000,000.00...