Tag: UT Bank
-
GCB Bank absorbs 70% of UT, Capital banks’ staff
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…
-
PwC selects ‘buyers’ of UT, Capital banks’ loan portfolios
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…
-
Contract of UT, Capital bank workers terminated
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…
-
Pearl Esua-Mensah to head Media General Group
Former Deputy Managing Director of UT Bank, Madam Pearl Esua-Mensah, has been appointed as the Group Chief Executive Officer of the Media General Group. Media General Group owns over 6 media brands including TV3, Onua 95.1 FM, 3FM 92.7, Akoma 87.9FM, Connect 97.1FM, 3news.com and Adesa Productions. Madam Pearl Esua-Mensah whose appointment takes effect from October…
-
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…
-
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…
-
Stock Exchange lifts suspension on Clydestone and TRANSOL
The Ghana Stock Exchange (GSE) has lifted the suspension on the trading activities of two of the five companies that were sanctioned for failing to comply with some regulations guiding listing on the Exchange. The two companies are Clydestone (Ghana) Limited and Transaction Solutions (Ghana) Limited (TRANSOL). According to the GSE, the companies had corrected…
-
Stock Exchange suspends trading for five companies
The Ghana Stock Exchange (GSE) will from Monday, August 28, suspend the trading activities of five listed companies on the Exchange. The managers of the domestic bourse say the decision is due to the failure of the said companies to meet their continuing listing obligations despite several promptings to do so. The five companies are…
-
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…
-
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…