Properties of collapsed Heritage Bank to be auctioned
The properties of Heritage Bank, one of the nine indigenous banks that lost their licence to the Bank of Ghana (BoG) reforms, are to be auctioned on September 9, 2019.
A public notice published on Thursday, September 5, 2019 listed the properties up for the auction as office furniture and other fitting equipment, vehicles and power plants.
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The auction was ordered by the Receiver of the bank, the notice said.
It explained that the auction would be carried out by one Mr Jonas Acquah of JONAC Mart, an auctioning firm, at Dzorwulu and Tema Motorway Industrial Area, both in Accra.
The notice detailed the properties as included used furniture and fitting office equipment, two Toyota Land Cruiser V8 vehicles, seven Toyota Land Cruiser Prado vehicles and one Toyota Fortuner vehicle and used power plants (automatic voltage regulator (AVR), generators and UPS.
It is expected that the funds to be generated from the auction would be used to settle creditors.
Heritage Bank, which started operations in 2016, lost its licence in January this year after the BoG found that aspects of its operations breached various aspects of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930).
Its good assets and liabilities were merged into the Consolidated Bank Ghana Limited (CBG) under a purchase and assumption agreement.
But unlike the eight other banks that were consolidated into the CBG, Heritage Bank’s branches were closed in a rationalisation exercise meant to streamline its cost of operations.
