Home Business BREAKING NEWS: Heritage Bank collapsed, merged with Consolidated Bank

BREAKING NEWS: Heritage Bank collapsed, merged with Consolidated Bank

The Bank of Ghana has, in a surprise, move revoked the licence of Heritage Bank Ghana Limited.

The central bank has also approved a purchase and assumption agreement with Consolidated Bank Ghana Limited to take over the liabilities and selected assets of the now defunct bank.

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BoG Governor, Dr Ernest Addison will announce the action shortly as per information reaching us.

It is understood that the central bank could not authenticate the source of capital for the bank this leading to the revocation of its license and merger with the CBL.

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