i. Equality is Equity: This maxim means that equity favors equal distribution unless there is a clear intention otherwise. In banking, it applies to scenarios like joint accounts or securities where multiple parties have claims. For instance, in the administration of a deceased customer’s estate under the Intestate Succession Law, 1985 (PNDCL 111), equity ensures equal shares among beneficiaries if no will specifies otherwise. Practically, at GCB Bank, when handling joint mortgages, repayments are apportioned equally to avoid disputes, aligning with fair lending practices under BoG’s Corporate Governance Directive 2018.

ii. Equity will not suffer a wrong to be without a remedy: This principle ensures that where common law fails to provide relief, equity intervenes. In Ghanaian banking, it underpins remedies like specific performance in contracts or injunctions against wrongful dishonor of cheques. For example, if a bank wrongfully refuses to honor a customer’s instruction due to system errors, equity can grant remedies beyond damages, as seen in cases post the 2017 banking cleanup where customers sought equitable relief for frozen accounts. This maxim supports BoG’s emphasis on customer protection under Act 930.

iii. He who comes into Equity must come with clean hands: This requires that a party seeking equitable relief must not have acted unfairly or fraudulently. In banking contexts, if a customer sues for undue influence in a loan agreement but had provided false information, their claim may be denied. A real-world example is during the DDEP, where investors with misrepresented portfolios were barred from certain equitable adjustments. Banks like Ecobank Ghana use this in compliance checks to deny relief to non-compliant borrowers, reinforcing ethical standards in Basel III-adapted risk management.