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Tag Archives: GCB Bank

Ex Capital bank workers lament locked up providence funds

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Former workers of defunct Capital bank are livid over what they say is the calculated attempt by their fund managers not to pay their providence funds. The disclosure comes despite the approval by the receiver of the joint purchase and assumption of UT and Capital banks, PricewaterhouseCoopers (PwC), for payment of such funds to the workers. The workers tell Citi ...

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GCB Bank to publish 2017 financial results end of May

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GCB Bank has announced that it will release its financial statement for 2017, by the end of May 2018. The bank says it will at the same time release the first quarter financial performance results for 2018. GCB Bank has been unable to comply with the Bank of Ghana’s directive asking all commercial banks to publish their financial statements for ...

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GCB eyes leading bank with new strategy

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GCB Bank is optimistic it will increase its market share in the banking industry within the short to medium term. This comes as the bank has outdoored its ‘Golden Eagle Ambassador initiative’. Under the initiative, 200 staff have been selected from all nine zones in which the bank operates to market the bank. The move also comes at a time ...

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GCB Bank absorbs 70% of UT, Capital banks’ staff

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GCB Bank has absorbed about seventy (70) percent of the permanent staff of defunct UT and Capital Banks. It follows the completion of the full integration of the systems of the two banks. A statement on the issue and copied to Citi Business News said, “As a result of the integration, staff numbers have been rationalized and GCB has absorbed ...

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PwC selects ‘buyers’ of UT, Capital banks’ loan portfolios

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The Joint Receivers of collapsed UT and Capital Banks, PricewaterhouseCoopers (PwC) has told Citi Business News it will select the institution with the most competitive option in defraying the loan portfolios of the two banks, as it reviews the shortlisted applications. According to the receivers, this will ensure value for money and benefit affected customers of the two collapsed banks. ...

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PwC asked to clarify jobs termination at UT, Capital banks

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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

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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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What to know about Capital Bank’s collapse (Audio)

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Capital bank, an indigenous bank that transformed from a Savings and Loans Company has been assumed over by GCB Bank in a purchase and assumption agreement. It is emerging that the writings were clear on the wall a couple of years before this. What probably went wrong leading to this situation? The audio below gives some possible explanations. – By: Pius ...

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Manage UT & Capital Banks takeover to build investor confidence – Chamber of Commerce

Mark Badu Aboagye - CEO, Ghana National Chamber of Commerce and Industry (GNCCI)

Business Associations have impressed on the Bank of Ghana and relevant institutions to properly manage the takeover of Capital Bank and UT Bank in order not to erode investor confidence. They argue that the inability to control the transaction to protect the interest of affected businesses will ultimately affect economic growth. The concerns by the business associations have become apparent ...

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UT, Capital Banks staff to undergo skills assessment

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GCB Bank has emphasized that it will undertake a skills assessment to determine the necessary action regarding employment following the takeover of UT Bank and Capital bank. The Managing Director of GCB Bank, Ray Sowah explains that the move will provide the necessary steps as to which staff should be retained or laid off. He made the remarks when he ...

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