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Cameroon to recapitalize two private banks to the tune of XAF46.9 bln

Cameroon to recapitalize two private banks to the tune of XAF46.9 bln
March 8, 2021
| Cameroon will inject close to XAF47 billion to recapitalize Union Bank of Cameroon (UBC) and National Financial Credit (NFC Bank), two banks ailing since 2009, Ecomatin reveals. The media was thus quoting a letter sent, on February 18, 2021, by Ferdinand Ngoh Ngoh (Secretary-General at The Presidency of The Republic) to Séraphin Fouda, Secretary-General at the Prime Minister’s office.
“I have the honor to inform that the President of the Republic has authorized the state to bear the costs of the restructuration of National Financial Credit (NFC Bank) and Union Bank of Cameroon (UBC). The costs should not exceed XAF29.1 billion for NFC Bank and XAF17.8 billion for UBC,” Ferdinand Ngoh Ngoh writes. ....

Ferdinand Ngoh , Victor Fotso , Yves Michel Fotso , Union Bank , National Financial Credit , Prime Minister , Commercial Bank , தொழிற்சங்கம் வங்கி , தேசிய நிதி கடன் , ப்ரைம் அமைச்சர் , வணிகரீதியானது வங்கி ,

Cameroon to recapitalize two private banks to the tune of XAF46.9 bln

(Business in Cameroon) - Cameroon will inject close to XAF47 billion to recapitalize Union Bank of Cameroon (UBC) and National Financial Credit (NFC Bank), two banks ailing since 2009, Ecomatin reveals. The media was thus quoting a letter sent, on February 18, 2021, by Ferdinand Ngoh Ngoh (Secretary-General at The Presidency of The Republic) to Séraphin Fouda, Secretary-General at the Prime Minister’s office.

I have the honor to inform that the President of the Republic has authorized the state to bear the costs of the restructuration of
National Financial Credit (NFC Bank) and Union Bank of Cameroon (UBC). The costs should not exceed XAF29.1 billion for NFC Bank and XAF17.8 billion for UBC, Ferdinand Ngoh Ngoh writes. ....

Ferdinand Ngoh , Victor Fotso , Yves Michel Fotso , Union Bank , National Financial Credit , Prime Minister , Commercial Bank , Amp Nbsp , தொழிற்சங்கம் வங்கி , தேசிய நிதி கடன் , ப்ரைம் அமைச்சர் , வணிகரீதியானது வங்கி ,