Regulators in the
financial sector have applauded Consolidated Bank Ghana’s (CBG) effort in
delivering quality and strong banking services to its varied customers.
At a meeting with Financial Institutions at the CBG Head Office in Accra on
Thursday, July 25, 2019, the Bank of Ghana (BoG), Securities and Exchange
Commission Ghana (SEC Ghana), and National Pension Regulatory Authority (NPRA)
have thrown their weight behind CBG to support economic growth.
Mr. Ernest Addison, Governor of BoG said “Consolidated Bank was birthed on 1st
August 2018. At the initial stage, there were challenges and doubts but under
good management the story is positive now”.
“We are very happy with CBG and I applaud the Management and Board of CBG for
the hard work done so far. We have seen significant improvements in the bank
and their deposits are growing quickly”, he said.
Rev. Daniel Ogbamey Tetteh, SEC Boss, added that the institution is ready to
support CBG.
“There is greater cooperation and coordination among the regulators and we are
determined to stand together to give the right support CBG needs to build up
and restore confidence in the financial sector.”
Managing Director (MD) of NPRA, Hayford Attah Krufi said the transparency with
which CBG conducts its business is commendable.
“A year ago, CBG was formed to handle customers of erstwhile banks. CBG has not
only handled the mess but won the hearts of its customers, regulators and the
general public” he said. “We are here to support your every move as a strong
and reliable player. We at NPRA stand with you.”
MD of CBG, Mr. Daniel Wilson Addo assured regulators, heads of financial
institutions and customers that CBG is focused on carrying out its mandates to
ensure depositors’ funds are protected and to build an institution that will
play a significant role in the Ghanaian business arena.
“We have for the period of approximately a year been engaging individual
institutions and today’s event seeks to engage stakeholders collectively, to
assure you of CBG’s financial stability. Our keen interest is to be your
trusted bank and to showcase our efforts to facilitate and ensure continuity of
the financial system” he said.
“We were faced with the task of validating all accounts and their balances
after which CBG could confidently payout; we are well-grounded in solid
governance and prudent risk management within BoG and international standards.
We have tailor-made products, the right and experienced human resource on our
team to deliver nothing short of your expectations and beyond” Mr. Addo
added.
“CBG is here for you, ready to do business with you and poised to grow with
you. Stay with us, as we pledge to you our hallmark services and bespoke
products as we promise to continually ‘Stand With You’ Mr. Addo
concluded.
The meeting ended in the cool of the airport breeze as stakeholders engaged
further in business discussions and partnership.
CBG
