uniBank Takeover: Analyst Urges Audit of Banks’ Risks to Loan Default

Some economists are advocating an immediate audit into the risks faced by commercial banks in retrieving loans given to their customers to avert a collapse of the financial industry.

The suggestions follow the Bank of Ghana’s decision to allow KPMG takeover the management of uniBank over their low capital levels.

It is unclear what sanctions the central bank could apply if uniBank fails to restore its operations to meet regulatory standards after the six months’ period.

Meanwhile the industry regulator has assured customers that their deposits would be protected throughout the exercise.

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Source: Citibusinessnews