– The Board of Universal Merchant Bank Ltd (UMB) has acknowledged the appointment of Dr Joseph France, as an Advisor to support the Bank in its recapitalisation drive as contained in Bank of Ghana’s press release dated 28th March.
The UMB Board of Directors in a statement copied to the Ghana News Agency said as already known, as part of the post
Domestic Debt Exchange Programme (DDEP) recovery plan all banks had been given up to December 2025, to restore their minimum paid-up capital.
“UMB is on track and its objective is to achieve full recapitalisation before the targeted deadline,” it said.
“The Board therefore is appreciative to the Bank of Ghana for the effort to support the Bank with the appointment of Dr. France for the above-stated purpose.”
The statement said UMB wishes to assure its cherished customers, all other stakeholders, and the public that the Bank was resilient and resolute with an unwavering commitment to continue to work in their best interest.
It said the appointment of the Advisor would, therefore, be complementary to the above commitment.
It said the Board and Management assures Dr France of its commitment to work closely on speeding up and concluding the recapitalization process within the stipulated period.
Universal Merchant Bank (UMB) is a full-service financial institution specializing in customized banking products and services.
UMB opened on March 15, 1972, and is a leading Ghanaian indigenous bank with considerable financial expertise.
UMB is recognized for its entrepreneurial approach, innovative use of technology and distinctive banking solutions.
UMB currently has thirty-five (35) branches, three (3) UMB Centres for Businesses, 1 UMB PPP Incubator Centre, and a vast network of ATMs.
UMB is also ISO 27001 and PCI DSS certified and boasts a full suite of omnichannel solutions including the UMB SpeedApp agnostic mobile banking solution.
GNA
LAA
March 29 2024
