PRESS RELEASE: UMB assures stakeholders that bank is resilient

UMB Business News Mar - 29 - 2024 , 17:17

The Board of Universal Merchant Bank Ltd (UMB) hereby acknowledges the appointment of Dr. Joseph France as an Advisor to support the Bank in its recapitalization drive as contained in Bank of Ghana’s Press release dated 28th March 2024.

As already known, as part of the post DDEP recovery plan all banks have been given up to December 2025 to restore their minimum paid-up capital. UMB is on track and is its objective to achieve full recapitalisation before the targeted deadline.

The Board therefore is appreciative to the Bank of Ghana for the effort to support the Bank with the appointment of Dr. France for the above-stated purpose.

UMB wishes to assure its cherished customers, all other stakeholders, and the general public that the Bank is resilient and resolute with an unwavering commitment to continue to work in their best interest. The appointment of the Advisor will therefore be complementary to the above commitment.

The Board and Management assures Dr. France of its commitment to work closely on speeding up and concluding the recapitalization process within the stipulated period.

Signed
Board of Directors
UMB

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About UMB

Universal Merchant Bank (UMB) is a full-service financial institution specializing in customized banking products and services. UMB opened on March 15, 1972, and is a leading Ghanaian indigenous bank with considerable financial expertise. UMB is recognized for its entrepreneurial approach, innovative use of technology and distinctive banking solutions. UMB currently has thirty-five (35) branches, three (3) UMB Centres for Businesses, 1 UMB PPP Incubator Centre, and a vast network of ATMs. UMB is also ISO 27001 and PCI DSS certified and boasts a full suite of omnichannel solutions including the UMB SpeedApp agnostic mobile banking solution.

UMB is active on key media platforms. For more information about UMB and its products and services, please visit: www.myumbbank.com