Merge or be liquidated-rural banks told

Kumbungu (N/R), Nov. 29, GNA - Mr Eric Osei-Bonso, the Managing Director of the ARB APEX Bank Limited, has said in view of the challenges and stiff competition facing the banking industry in the country, it would be in the interest of Rural Commercial Banks (RCBs) to merge or face liquidation.

He said, for example, the cost involved for the maintenance of ICT infrastructure after the computerization and networking of RCBs was very expensive for the banks to afford.