Premium Bank collapsed, merged into Consolidated Bank Ghana
The Bank of Ghana (BoG) has withdrawn the of Premium Bank Limited for breaching sections of the Banks and Specialised Deposit Taking Institutions Act
Governor of BoG, Ernest Addison announced this at a press conference Friday evening.
Together with Heritage Bank which has also been collapsed by the BoG, has issued a GHc1.4bn bond to cover the gap.
The central bank has also approved a purchase and assumption agreement with Consolidated Bank Ghana Limited to the liabilities and selected assets of the two banks - Heritage and Premium.