GCB Bank lost GHȼ1bn in 4 months after absorbing UT, Capital banks

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UT Bank and Capital Bank started collapsing during John Mahama’s Administration due to the poor management of the economy. From the officials of these two Banks and from the records of Bank of Ghana, UT Bank and Capital Bank were on life support for survival since 2015.

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The GCB Bank has acquired UT Bank and Capital Bank following the distress of the two banks, the Bank of Ghana (BoG) has said. The development is in line Section 123 of the new Banking Act, which states that when a bank is in distress, the Bank of Ghana revokes their license, appoints a receiver and then look for a buyer.

GCB Bank records decline in earnings following UT, Capital Banks assumption. The Bank also recorded growth of 58.4 per cent in its total assets, from GH6,075 million in 2016 to GH9,627 million in 2017, a growth in deposits of 63 per cent from GH4,260 million in 2016 to GH6,924 million in 2017. In light of these modest gains and.

The GCB Bank has acquired UT Bank and Capital Bank following the distress of the two banks, the Bank of Ghana (BoG) has said. The development is in line Section 123 of the new Banking Act, which.

Furthermore, UT Bank and Capital Bank branches and ATMs will continue to operate as normal as GCB bank branches and ATMs and all staff, in the interim, will become staff of GCB bank and GCB Bank will negotiate the terms of their contract.

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UT Bank, Capital Bank Limited Taken Over By GCB Bank Ltd. It said the main offices and branches of UT Bank and Capital Bank would be under the control of GCB Bank and would be opened at 1300 hours on Monday for normal business transactions. The statement assured customers of UT Bank and Capital Bank that they would continue to have access.

The GCB Bank has acquired UT Bank and Capital Bank following the distress of the two banks, the Bank of Ghana (BoG) has said. The development is in line Section 123 of the new Banking Act, which states that when a bank is in distress, the Bank of Ghana revokes their license, appoints a receiver and then look for a buyer.

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