Home Business Keystone Bank Sierra Leone to sell all assets after just a year

Keystone Bank Sierra Leone to sell all assets after just a year

by Vickie Remoe
334 views

Keystone Bank has announced that it will to sell its assets in Sierra Leone and Liberia after doing same in Uganda. This news comes a little over a year since Keystone took over Bank PHB in Sierra Leone.

At $5.5 million Sierra Leone has the lowest minimum paid up capital requirement in the West African region. This figure was last reviewed in 2009, although the Central Bank announced it would review the requirement in 2013. There are 13 banks in Sierra Leone, of these only three are indigenous; Rokel, SL Commercial, and UTBank. Both Rokel and SL Commercial were put into administration by the Central Bank last year after historic losses.

In Ghana the minimum requirement is $60 million (2012), and in Nigeria it is $125 million (2010) for a national bank.

Related Posts Plugin for WordPress, Blogger...

Related Articles

Subscribe To Our Newsletter

KUSHE O! BE THE FIRST TO KNOW! Get Breaking News, and the latest trends from Sierra Leone's every week. If no to bot Salone wi no go eva mail yu!

You have Successfully Subscribed!