The Ghana Association of Bankers (GAB) says the ongoing restructuring of Volta River Authority (VRA) legacy debts on the books of some local banks is on course.
The process would show a reduction of Non-Performing Loans (NPLs) by the end of the year.
The GAB noted that the first quarter payment, after the initial deposit of GH250.00 million, was due to be paid on September 30, and was confident of the capacity of the Fund under Energy Sector Levies Act (ESLA) to make the quarterly payments.
Mr Alhassan Andani, President of the GAB and CEO of Stanbic Bank Ghana Limited made this known during a news conference after the Associations 33rd Annual General Meeting (AGM) in Accra.
He said the banks would receive the two quarter payments…
Read the full article at: https://www.ghanabusinessnews.com/2016/10/02/restructuring-of-vra-legacy-debts-on-course/