Feb. 2 (Bloomberg) -- Zimbabwe will raise capital requirements for banks from $12.5 million, the Daily News said, citing central bank Governor Gideon Gono.
Gono didn’t say how much the banks would have to maintain as minimum capital, the Harare-based newspaper said. Twenty of Zimbabwe’s 25 licensed banks have capital reserves in excess of $12.5 million, it said.
Barbican Bank (Pvt) Ltd. may lose its license after failing to open a year after it was licensed, Daily News said. Royal Bank (Pvt) Ltd. and Zimbabwe Allied Banking Group (Pvt) Ltd. have less than $12.5 million in capital reserves, it said.
To contact the reporter on this story: Brian Latham in Johannesburg at firstname.lastname@example.org.
To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at email@example.com.