GN Bank merges with Sahel Sahara and Premium banks

GN Bank, Sahel Sahara Bank and Premium Bank have concluded negotiation to merge.

The deal could be the first in a series following the central bank’s directive to commercial banks to re-capitalise. All banks are to raise their minimum paid-up capital to GH¢400 million by December this year.

Full disclosure will be given out by close of business Tuesday by parties involved.

The deal is however yet to be approved by the central bank which has received the banks proposal to merge.

The transaction, TV3 Business gathers was led by Gold Coast Fund Management, a subsidiary of the Groupe Nduom, owned by business magnate and politician, Dr Paa Kwesi Nduom.