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Tag Archives: capital bank

PwC asked to clarify jobs termination at UT, Capital banks

ut capital

Some labour analysts are demanding clarity from Price Waterhouse Coopers (PwC) in the decision to terminate the contract of employees of defunct UT and Capital banks. They argue that the terms indicated in the termination letters served the employees of the two banks may be short of the labour law which protects the interest of employees in cases of insolvency. ...

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Contract of UT, Capital bank workers terminated

Capital-Bank- RIP600x330

Pricewaterhouse Coopers (PwC) has commenced issuing letters to staff of former UT and Capital Banks. PwC is undertaking this exercise in its capacity as the receiver of the purchase and assumption agreement between GCB Bank and the two defunct banks. Information available to Citi Business News indicates that the letters are being served to all employees of the two affected ...

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The fate of UT and Capital banks’ shareholders (Article)

Capital-Bank- RIP600x330

The breaking news that shocked the banking system on Monday, 14th August 2017, has left a lot of questions on the minds of many and I ask what happens to the employees and the shareholders of these two collapsed banks? As many in the public are really worried and uncertain about the effects of the collapse of UT and Capital ...

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BoG rectifies UT and Capital Bank ‘blunder’

bog microfinance

Following Citi Business News’ revelation that the defunct Capital and UT Banks are still on the list of banks in Ghana, the Bank of Ghana has amended its list of commercial banks. The two banks have since been assumed by GCB in a purchase and agreement arrangement approved by the Central bank on the 14th of August, 2017. But a ...

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UT, Capital banks still on BoG’s banking list

ut capital

It is emerging that the Bank of Ghana (BoG) is yet to update its list of banks even weeks after it allowed GCB to purchase some assets and liabilities of UT and Capital banks. A visit to the BoG’s website has shown that the two collapsed banks are still on the list of commercial banks in Ghana whose Bank Identifier ...

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8 key Q&A s on collapse of UT, Capital Bank (Article)

ut capital

The collapse of two indigenous banks; UT and Capital Banks have left in their wake discussions within the industry as to what possible conditions may have triggered the situation. The Bank of Ghana among others cited the provisions of the Banks and Specialised Deposit-Taking Institutions (SDIs) Act, 2016 as basis for allowing GCB Bank to assume the assets and liabilities ...

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More banks risk collapse over high power cost – Economist

Dr. Charles Ackah

Ghana’s financial sector should brace itself for more banks collapse should the high cost of power continue unresolved. This is the assertion of Economist, Dr. Charles Ackah. Dr. Ackah who is also a Senior Research Fellow at the Institute of Statistical, Social and Economic Research (ISSER) argues that the high cost of power in Ghana has increased the cost of ...

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Collapse of UT and Capital banks – A case of a collective national failure (Article)

ut capital

As an entrepreneur who appreciates the challenges to surmount in order to build flourishing businesses with positive ramifications for society, the collapse of UT and Capital Banks can only be seen as a reflection of our respective individual negative traits, deficient national character and  the weak state institutions coupled with our ineffective educational system. The collapse of these banks obviously ...

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BoG to commission audit into UT, Capital banks’ operations

ut capital

The Bank of Ghana is to commission a team of auditors into the operations of UT and Capital Banks as it investigates the circumstances surrounding the collapse of the two banks. This is to follow an approval from the Public Procurement Authority as the central bank is resorting to sole sourcing in the selection of the requisite professionals. Governor of ...

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