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Do You Have an Account With Access Bank or Keystone Bank?

Ilminster, United...
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Do You Have an Account With Access Bank or Keystone Bank?

Hi

The Central Bank has taken over the running and assets of these two banks with immediate effect rgds

Bristol, United...
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1. Re: Do You Have an Account With Access Bank or Keystone Bank?

What would be done.

Bristol, United...
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2. Re: Do You Have an Account With Access Bank or Keystone Bank?

The CBG said it was acting under the Banking Act 2009, and that “this is with a view to safeguarding the financial system, in particular, and the economy, in general.”

According to the release, “under this arrangement, the Central Bank of The Gambia has full and exclusive powers to manage and control the two banks to ensure that they operate in a safe and sound manner.”

“The two banks would continue business as usual, and depositors are assured that the banks have ample liquidity to meet current and future obligations.”

The CBG did not clearly state the reason why it is taking over the two commercial banks now. Usually, the threat or risk of a bank going under or becoming a “failed bank” would necessitate such action.

However, it would be recalled that the CBG in January 2013 raised the minimum capital requirement for commercial banks to operate in The Gambia, from D150 million to D200 million.

It is also not clear, from the CBG press release, whether as the country’s financial regulator, it is taking over control of the two banks, including their assets and liabilities, temporarily or as an interim measure.

Ascot
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3. Re: Do You Have an Account With Access Bank or Keystone Bank?

As we know from experience with Northern Rock, publicising any problems will very likely cause a run on the bank. Crazy !!!!

Ilminster, United...
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4. Re: Do You Have an Account With Access Bank or Keystone Bank?

Hi

The Central Bank has announced that the Access Bank has now increased its capital in excess of the required amount ( cash provided by its Nigerian owners) and is no longer nationalised Keystone (formerly PHB) remain nationalised rgds

Bristol, United...
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5. Re: Do You Have an Account With Access Bank or Keystone Bank?

Investors in Access Bank's Gambian unit have injected over $15 million to recapitalise and take back control of the bank after it was briefly nationalised last week, Gambia's central bank said in a statement on Monday.

The statement said the bank's capital had fallen below a required minimum level of 200 million Gambian dalasis ($5.05 million), leading to its takeover on May 5.

"Following the takeover, the investors of Access Bank (Gambia) Limited injected capital of $15.2 million to recapitalise the bank and made a commitment to inject an additional $4.8 million," the statement said.

Consequently, the Central Bank of the Gambia ... has decided to return Access Bank (Gambia) Limited to their owners with effect from Monday 12, 2014,"

Banbury, United...
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6. Re: Do You Have an Account With Access Bank or Keystone Bank?

Hi Irish

I think I got the wrong Bank ! sorry ...

It is the Trust Bank I am talking about and the questions still stands ...

Thanks

banjul
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7. Re: Do You Have an Account With Access Bank or Keystone Bank?

Trusting a bank based in Africa is always a gamble. The interest rates may be attractive but if it looks too good to be true then it is. Remember Bayba that went belly up leaving many expats almost broke. If you really have to have an account in Gambia Standard Chartered would be my choice, yes the service is crap and the interest poor but at least your cash won't vanish overnight.

Ilminster, United...
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8. Re: Do You Have an Account With Access Bank or Keystone Bank?

Hi

mamacool_11

minimum balances are Current Account D1500 Savings Account D250 Student Savings Account D200 The Annual General Meeting is being held today when these might change I will post if they do rgds

Sheerness, United...
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9. Re: Do You Have an Account With Access Bank or Keystone Bank?

My partner has an account with Access Bank and he is not in the country and wants to enable a family member to withdraw his monies and put them into Trust Bank. Is that possible while he is not in the country?

Eton, United Kingdom
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10. Re: Do You Have an Account With Access Bank or Keystone Bank?

I should hope not. Not about you personally of course. If it were easily possible I can imagine the queue!