Financial expert, Patrick Baah Abankwah has stated that Bank clients need not fear when a bank is sold or the ownership changes.
In a chat with DJ Nyaami on SVTV Africa, Mr Abankwah disclosed reasons clients must not make Panic withdrawals. Nothing changes when a bank changes ownership.
According to Patrick, customer accounts and funds are typically protected and transferred to the new owner without impacting the account holders.
Patrick said, “All current, savings and investments accounts remain the same after a change of ownership. Nothing changes. The new owner often puts in new capital to make the bank stronger than before.”
Moreover, Patrick mentioned that when a bank changes ownership, the Bank is carefully regulated and supervised by the Bank of Ghana to ensure the stability and security of the bank.
As a result, staying informed about the change and understanding the regulatory protections in place can help alleviate any concerns and maintain confidence in the safety and stability of your banking relationship.
Kindly watch the full interview below;
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