According to Bank of Ghana (BoG) the doors are open for the new banks who wished to enter the Ghanaian market but the Bank will look each application on its merit.
Mr Franklin Belnye, the Director of the Banking Supervision Department of the BoG, has told, in the presentation of the 2015 Banking Survey in last Wednesday that we have not close the doors for new banks.
We will look the applications on their merits and the value of their promises for the economy.
He said the Bank of Ghana would still allow the new banks to operate in the country.
With the growth of mobile money by telecom companies the bank also issued guidelines for regulating the emerging area.
According to PWC Banking Survey the banking sector has grown in past few years and will continue to rise for next five years.
Mr Vish Ashiagbor, the Country Senior Partner of the PWC commended that in spite of a hard competition the banking sector has grown very fast and will continue to grow for the next five years.
In 2010 to 2014 the banking assets grew by 31.1 percent and the deposits of the banks also grew by 28.9 percent in the same time.
For the next years to 2020 the assets of the banks would increase from GH¢67.46 billion to GH¢261.55 billion and the deposits would be grow from GH¢37.66 billion to GH¢133.75 billion.
The theme of that banking survey was “Bank of the future and what the bank will experience in 2020.
The customers have expressed their views regarding channels, technology, organization and products and services represented by the banks.
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