The Impact of the Collapsed Banks on Customers in Ghana
Jonas Yomboi, Clement Nangpiire, Elijah Aloriwor Kutochigaga, Mohammed Majeed
Asian Journal of Economics, Business and Accounting · pp. 15–25 · Published 29 Oct 2021
10.9734/ajeba/2021/v21i1730487Abstract
In an effort to overhaul and stabilise the banking sector, the Bank of Ghana revoked the licences of nine Ghanaian banks and one was downgraded to savings and loans institution which later folded up summing up to ten banks. This paper investigated the effects of the collapse banks on customers. Using a quantitative approach, the study revealed that the collapse of the banks had major impacts on customers including loss of capital, disincentive to do further savings, inability to pay creditors and a general decline in the capacity to handle needs including educational plans. In addition, the study established that the most affected customer category was current account holders. Among others, the study recommends that the Bank of Ghana should be cautious in handing distressed banks, and also encourage self-regulation among banks mainly through the Bankers’ association. It is also recommended that over ambitious branch network expansions should be scrutinized regularly by the Central Bank. As part of the governance framework, universal banks should also put in place mechanisms to monitor and sanction both internal and external auditors when their works fall below expectations.
Cited by 11
Donkor Nawaah, S. Akhtar, Syed Hasan Jafar · Cogent Education · 2024
Wulan Rahmawati, Unggul Kustiawan · Dinasti International Journal of Education Management And Social Science · 2024
B. Hoffman, J. Okeniyi, S. Samuel · Journal of Risk and Financial Management · 2024
D. D. Gli, E. Y. Tweneboah-Koduah, Raphael Odoom · African Journal of Economic and Management Studies · 2023
Emmanuel Dare Otitolaiye, Trimisiu Tunji Siyanbola, Appolos Nwabuisi Nwaobia · International journal of economics, business and management research · 2023
Victoria Manu · Navigating the Fintech Frontier Transformative Innovations and Risk Factors in Financial Services · 2025
Khadijah Iddrisu, Isaac Ofoeda, Osman Issah · Sustainable Development Goals Series · 2025
Yamima Dauda, Afia Nyarko Boakye, Esther Asiedu · Algorithms for Intelligent Systems · 2025
Jayadatta Shreepada, Mohammed Majeed, Jonas Yomboi · Navigating the Fintech Frontier Transformative Innovations and Risk Factors in Financial Services · 2025
Emmanuel Osei-Dwomoh, Joseph Kofi Nkuah, Gabriel Osei Forkuo · 2025
Related research
- An Empirical Study on the Progression of Self Help Groups in India — shares topic coverage
- Determinants of Savings among Rural Women in Borno State, Nigeria — shares topic coverage
- Demographic Determinants of Savings in ECOWAS — shares topic coverage
- Metrics of Mediation of Binary Location on Savings - Income Relationship for Middle Income Earners in Nigeria — shares topic coverage
- An Empirical Analysis of Financial Sector Development and Savings Mobilization in Nigeria: ECM Analysis — shares topic coverage
Article metrics
Real usage data collected on this platform.
0
Page views
0
PDF downloads
0
Outbound clicks
11
Citations
Views by country
Approximate, from request IP at view time — not citizenship or institution. Countries with fewer than 5 views are grouped as "Other".
No views recorded yet.
Traffic sources
Referring site, by host.
No traffic recorded yet.
Views and downloads exclude known bots/crawlers. Citations combines this platform's own DOI-resolved index with each external source's own reported total — see Cited by above for individually listed citing works. Last refreshed 0 seconds ago.