Kuulpeeps, we told y’all that some ADB shareholders have pledged their shares to Unibank right?
Well that sort of looked like Unibank taking over ADB.
See Also: Unibank Takes Over ADB
The Bank of Ghana came out to state that it has not approved any Unibank-ADB takeover.
But there has been a dramatic turn of events.
The Bank of Ghana has announced it has taken over the management of the private bank, Unibank and it has appointed KPMG to manage the bank.
Yes, the bank that was supposedly swallowing another has gotten itself taken over.
The Governor of the central bank, Ernest Addison explained at a press conference, the takeover is due to challenges facing the bank. He mentioned weak supervisory standards and weak operations as the cause of the challenges, myjoyonline reports.
Ernest Addison said the bank provided inaccurate data during the central bank’s effort to resolve the problems.
He assured depositors their money is safe, stressing “we are not liquidating the bank, we are saving it.”