Accra, Ghana

GSE Feed

Forex Rate

Tag Archives: GCB 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. ...

Read More »

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 ...

Read More »

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


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 ...

Read More »

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 ...

Read More »

UT, Capital Banks staff to undergo skills assessment


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 ...

Read More »

GCB takeover to strengthen banking operations – First Atlantic MD

Odun Odunfa - MD/CEO of First Atlantic Bank

Some bankers are upbeat about a turnaround in the operations of Ghana’s banking sector with the enforcement of laws governing the industry. According to them, the Bank of Ghana’s decision to enforce its laws in the revocation of the licenses of UT Bank and Capital Bank over their insolvency will transform operations in the sector. The Managing Director of First ...

Read More »

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 ...

Read More »

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 ...

Read More »

Average interest on mortgages stays at 33.2 %, GCB offers highest


The average interest rate for mortgage loans among commercial banks remained at 33.2 percent in May 2017. According to the Bank of Ghana’s Annual Percentage Rate (APR) and Average Interest (AI) report, GCB Bank still offers the highest interest on mortgages. The bank’s interest on mortgage loans still stands at 40.3 percent. It is followed closely by Bank of Africa, ...

Read More »

GCB Bank’s profits rise to GH¢299m

Mr. Raymond Sowah - GCB MD

GCB Bank has posted a 22 percent rise in profit in 2016 compared to the profit recorded in 2015. The bank’s profit for the period increased from 244.7 million cedis to 299 million cedis between 2015 and 2016. The rise in GCB Bank’s profits for 2016 comes after recording a drop the previous year. In 2015, the bank’s profits declined ...

Read More »
Ghana Business News