Samuel Namoog debunks claims that rural banks are suffering

The General Manager of Naara Rural Bank, Samuel Namoog has debunked claims that most rural banks in the Upper East Region are suffering and will soon join the list of collapsed universal banks in the country.

According to him, every year, it is the responsibility of Bank of Ghana to do a review of the operations of banks including the rural banks, which it does as expected.

“The five rural banks in the Upper East Region have qualified above the Bank of Ghana’s minimum capital requirement. For those who think that the collapse of some universal banks will definitely catch up with the rural banks, should change their mindset; that thinking is wrong. Why do I say so, because it is by law that every morning all rural banks must meet the 8% liquidity control daily, which we have been meeting.” Mr. Namoog explained.

He also added that, the sudden collapse of some universal banks in the country has even brought about an increase in deposits into many rural and community banks.

“Indeed, Naara Rural Bank has received more deposits than it ever expected this year. I therefore want the general public to note that, rural and community banks have all the expertise needed in managing their capitals.” Mr. Namoog said.

Source: | Moses Apiah | Ghana



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