The Royal Bank is a former

banking A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

and financial institution headquartered at

Legon Legon , a suburb of the Ghanaian city Accra, is situated about north-east of the city center in the Accra Metropolis District, a district in the Greater Accra Region of Ghana. Legon is home to the main campus of the University of Ghana. ...

Ghana Ghana (; tw, Gaana, ee, Gana), officially the Republic of Ghana, is a country in West Africa. It abuts the Gulf of Guinea and the Atlantic Ocean to the south, sharing borders with Ivory Coast in the west, Burkina Faso in the north, and To ...

. The bank was established in 2012 and has several branches all over the country. Six months after the start of operations, the bank had opened five more branches. In 2017, management of the bank announced they were improving the financial status of bank in order to meet the minimum requirement policy set by the

Bank of Ghana The Bank of Ghana ( BoG) is the central bank of Ghana. It is located in Accra and was formed in 1957. The bank is active in developing financial inclusion policy and is a member of thAlliance for Financial Inclusion History The Central Bank ...

that was to come into effect at the end of 2018. The updated Asset Quality Review (AQR) of the central bank of Ghana revealed that, just as in the case of uniBank Ghana LTD, Royal Bank LTD was also significantly under-capitalized, plans to restore them back to solvency could not materialize. Hence, Royal Bank LTD was declared to be beyond rehabilitation. Therefore Bank of Ghana revoked their license.

References

Banks of Ghana {{Ghana-stub