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Tag Archives: BoG

PwC to determine fate of UT Bank shareholders – GSE Boss

UT bank

Shareholders of UT Bank may have to wait a little longer until their fate is determined by the relevant transaction partners in the takeover of UT and Capital bank by GCB Bank. This is the indication from the Managing Director of the Ghana Stock Exchange (GSE), Mr. Kofi Yamoah. According to him, the benefits or otherwise accruing to shareholders would ...

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UT, Capital Bank insolvency: BoG to punish persons found culpable

Governor of Bank of Ghana Dr. Ernest Addison

The Bank of Ghana (BoG) has served notice it will punish any individual or persons whose actions may have led to the collapse of UT Bank and Capital Bank. The Governor of the Bank of Ghana, Dr. Ernest Addison explains that the move is to sanitise the banking sector and make it more robust. The Central Bank today, Monday, granted ...

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What to know; GCB takeover of UT, Capital Bank

bank-of-ghana pic

Following the collapse of UT Bank and Capital Bank, and the subsequent takeover of the two banks by GCB Bank Ltd, the Bank of Ghana has issued a statement with FAQs (frequently asked questions) offering further clarification of the transaction. Q. Why has the Bank of Ghana decided to revoke the licenses of UT Bank and Capital Bank? A. UT ...

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UT Bank customers rush to secure assets after GCB takeover

UT bank

Following GCB Bank’s takeover of UT Bank, customers have scurried to branches of the bank in an attempt to secure their assets. The Bank of Ghana confirmed the takeover of UT Bank and Capital Bank by GCB Bank in a statement on Monday morning, announcing that it had “approved a Purchase and Assumption transaction with GCB Bank Ltd that transfers ...

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GCB rebrands UT head office

UT rebrand-620x330

The rebranding of one of the two collapsed Ghanaian-owned banks, UT Bank, which has been taken over by GCB Bank, has started barely hours after the Bank of Ghana’s announcement. Citi News’ Anita Arthur reported from the headquarters of UT bank at Airport that the bank’s logo on the building has been replaced with that of GCB bank. She also added ...

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UT, Capital Bank staff agitated over takeover by GCB

ut capital

Information available to Citi Business News indicates that staff of UT Bank and Capital Bank are agitated over the takeover of the banks by GCB Bank. The staff who are reporting to work on Monday morning have been refused entry for the necessary processes to be completed. Citi Business News’ Anita Arthur reports from the Headquarters of UT Bank in ...

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Ghana’s oil revenue rises by 67% in first half of 2017 – BoG

oil

Latest figures have shown that revenue from Ghana’s oil production increased by 67 percent for the first half of 2017 compared to the same period in 2016. The semi-annual report on the Petroleum Holding Fund and Ghana’s Petroleum Funds shows that Ghana realized 191.32 million dollars in revenue in the first half of this year compared to the 114.4 million ...

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Occupy Ghana demands probe into Menzgold saga

Ace Annan Ankomah

Pressure group, Occupy Ghana is demanding thorough investigations into the operations of Menzgold to protect consumers from any undesirable impact on the unsuspecting public. Occupy Ghana is among others concerned that the inability of the Bank of Ghana, the Securities and Exchange Commission (SEC) and the Minerals Commission (MinComm) to clarify the operations of Menzgold will leave much to be ...

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Treasury Single Account to reduce govt’s borrowing – Ken Ofori Atta

Ken Ofori-Atta - Finance Minister

Government is hopeful the operation of a Treasury Single Account (TSA) should reduce its borrowing in the long term. The move which has seen the moving of some monies in accounts at some commercial banks is aimed at strengthening the financial sector where government borrows less to crowd out the private sector businesses. Under the TSA, government will be closing ...

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New 1st Deputy Governor to shape monetary policy – Prof. Bokpin

bog microfinance

Ghana should be on the path of achieving a strong monetary policy regime which is also in line with internationally accepted practices. That is the assertion of Economist, Professor Godfred Bokpin following the appointment of Mr. Maxwell Opoku-Afari as the First Deputy Governor of the Bank of Ghana. According to him, Mr. Opoku Afari’s international exposure and experience, should culminate ...

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