BANK OF GHANA

NOTICE TO BANKS, NON-BANK FINANCIAL

INSTITUTIONS AND THE PUBLIC

NOTICE NO. BG/GOV/SEC/2013/08

MINIMUM CAPITAL REQUIREMENTS FOR BANKS

AND NON-BANK FINANCIAL INSTITUTIONS

The Bank of Ghana announces for the information of Banks, Non-Bank

Financial Institutions (NBFIs) and the Public, the revised minimum capital
requirements for new industry entrants in accordance with Section 6(2) of
the Banking Act, 2004 (Act 673) and Section 11 of the Non-Bank Financial
Institutions Act, 2008 (Act 774) as follows:

1.0 Class 1 Banks (Universal Banks)

1.1 Minimum capital requirement for obtaining a Class 1 banking

licence is GH¢120,000,000.00 (One Hundred and Twenty
Million Ghana Cedis).

1.2 Class 1 banks licensed with the above minimum capital

requirement shall maintain an unimpaired capital (net own
funds) of not less than GH¢120,000,000.00 (One Hundred
and Twenty Million Ghana Cedis) at all times.

1.3 All existing Class 1 banks are advised to take steps to

enhance their capital in line with their business strategy and
risk profile to avoid requesting for single obligor exposure
waivers.

2.0 NBFIs (Savings and Loans Companies, Finance Houses and

Mortgage Companies)

2.1 Minimum capital requirement for obtaining a Savings and

Loans, Finance House or Mortgage Company licence is
GH¢15,000,000.00 (Fifteen Million Ghana Cedis).

2.2 NBFIs in the above category that are licensed with the above
minimum capital requirement shall maintain an unimpaired
capital (net own funds) of not less than GH¢15,000,000.00
(Fifteen Million Ghana Cedis) at all times.
 2.3 All existing NBFIs in the above-mentioned category are
advised to take steps to enhance their capital in line with their
business strategy and risk profile.

3.0 Rural/Community Banks

3.1 Minimum capital requirement for obtaining a Rural or

Community banking licence is GH¢300,000.00 (Three
Hundred Thousand Ghana Cedis).

3.2 Rural or Community banks licensed with the above minimum

capital requirement shall maintain an unimpaired capital (net
own funds) of not less than GH¢300,000.00 (Three Hundred
Thousand Ghana Cedis) at all times.

3.3 All existing Rural or Community banks are advised to take

steps to enhance their capital in line with their business
strategy and risk profile.

All Banks, Non-Bank Financial Institutions, prospective investors/

applicants and the general public are to take note of the above and be
guided accordingly.

(Sgd.)
ANDREW BOYE-DOE
THE SECRETARY

30th December, 2013