Privatization of UTB and BTCI to be completed in Q1 2020

Banking
Thursday, 21 November 2019 14:09
Privatization of UTB and BTCI to be completed in Q1 2020

(Togo First) - After talks of the direct transfer of the BTCI failed, Togolese public policies launched a tender similar to that of UTB's transfer. The government expects to close the lender's privatization in Q1 2020.

This would guarantee financial stability and reduce government’s budget expenses,” says the International Monetary Fund which closely follows the process. The institution argues that “profitability could improve after privatization, that is when the government fully renounces its control, or when banks are left to strategic investors. However, the IMF urges authorities to be transparent in the process.

The continued decline in the overall capital adequacy ratio is partly due to the large capital deficit of the two public banks. Apart from the two lenders, the overall solvency ratio of other banks that operate in the country far exceeds the level required by regulation. Their poor liquidity could also affect the entire system, the Bretton Woods Institution warned.

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