The most likely thought to pop up in the mind of the average Ghanaian citizen when they are asked how Consolidated Bank was formed will be something within the circles of the government putting together low-performing banks.
Well, is that all to the Consolidated Bank Ghana, or there is more. You will find out by the time you are done reading through this article.
For this guide, we will set out to find how the consolidated bank of Ghana was formed. Consolidated Bank of Ghana is one of the many indigenous banks in Ghana, serving citizens and non-citizen with unique banking services through innovative strategies.
Table of Contents
How Was Consolidated Bank Formed
One of the well-known languages in the banking industry is risk and risk assessment. The establishment of the Consolidated Bank of Ghana was pivoted on the above factors.
When the risk is maximum, and its impact can be catastrophic, it becomes necessary to eliminate it if it can be eliminated.
The establishment of CBG in Ghana emerged from the banking reforms complemented by the Bank of Ghana in 2017.
These reforms consist of various financial regulations and operational guidelines that need to be met by every bank operating in Ghana.
Banks that did not meet these reform requirements set by the Bank of Ghana were deemed unfit to operate, with some forming a merger and given the umbrella name Consolidated Bank of Ghana (CBG).
The merging of these banks was possible by the consensual agreement between the various banks involved.
When Was Consolidated Bank Established
Consolidated Bank of Ghana was established on 1st August 2018 in Ghana. Although its establishment took place a few years ago, it has not been operating effectively and efficiently with branches in over twelve regions in Ghana.
How Many Branches Does CBG Bank Have
Consolidated Bank of Ghana has one hundred and fourteen {114} branches across thirteen {13} regions in Ghana. This is an impressive number for CBG to start their operations with.
This means no matter your location in Ghana, and you can access a CBG branch near you. Consolidated Bank of Ghana is driven by a “People Strategy” that focuses on customers, employees, shareholders, and the media.
This is why they operate many branches in Ghana.
What Bank Formed CBG Bank
Five (5) banks came together to form the Consolidated Bank Ghana in 2018.
Belo0ow are the banks that formed Consolidated Bank in Ghana:
- Beige bank
- Construction bank
- UniBank
- Royal bank
- Sovereign bank
CBG now drives on the strength of these banks by ensuring a stable banking platform, rebranding, and creating a central network across these banks.
There has been an addition of two new banks to the Consolidated Bank of Ghana: Premium Bank and Heritage Bank.
Read the related Consolidated Bank articles below:
Ownership, How To Contact CBG, List Of Banks, Unibank, Saturdays, Consolidated Code, Treasury Bill, Internet Banking Registration, International, Current Interest Rate, USSD Code, Interest Rate, Launch Date, How Many Banks, BIC Code, Internet Banking, Short Code, Transfer From Other Banks, Withdraw Money, Open Account.