Tag: capital bank
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The fate of UT and Capital banks’ shareholders (Article)
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…
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BoG rectifies UT and Capital Bank ‘blunder’
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…
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UT, Capital banks still on BoG’s banking list
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…
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8 key Q&A s on collapse of UT, Capital Bank (Article)
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…
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More banks risk collapse over high power cost – Economist
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…
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The high and low of Ghana’s banking system; UT and Capital bank collapse (Article)
More financial institutions are being issued universal banking license to operate as banks yet the unbanked population of our country has not seen any significant reduction but rather people losing confidence in the system. The breaking news that shocked the banking system on Monday 14 August 2017 has left a lot of questions on the…
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Collapse of UT and Capital banks – A case of a collective national failure (Article)
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…
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BoG to commission audit into UT, Capital banks’ operations
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…
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Capital, UT banks’ collapse: BoG unblocks accounts of key managers
The Bank of Ghana has begun unblocking accounts of key managers of UT Bank and Capital Bank following investigations into the activities of the two banks leading to their collapse. This is contrary to media reports that the central bank has frozen the accounts of top managers and Directors of the two banks as it…
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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…