Tag: UT Bank
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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 UT Bank’s collapse (Audio)
The Bank of Ghana on Monday, August 14, 2017 granted permission to GCB Bank to purchase UT Bank in a purchase and assumption agreement. The Central bank explained that the move has become apparent due to efforts to consolidate the country’s financial sector. But what reasons led to the collapse of the indigenous bank? The…
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Manage UT & Capital Banks takeover to build investor confidence – Chamber of Commerce
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…
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GCB takeover to strengthen banking operations – First Atlantic MD
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.…
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PwC to determine fate of UT Bank shareholders – GSE Boss
Shareholders of UT Bank may have to wait a little longer until their fate is determined by the relevant transaction partners in the takeover of UT and Capital bank by GCB Bank. This is the indication from the Managing Director of the Ghana Stock Exchange (GSE), Mr. Kofi Yamoah. According to him, the benefits or…
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Stock Exchange suspends UT Bank
The Ghana Stock Exchange (GSE) has suspended the listing status of UT Bank following its collapse and subsequent takeover by GCB. This was revealed in a statement copied to Citi News. The GSE noted that the suspension had become necessary due to the revocation of UT Bank’s licence by the Bank the of Ghana. The GSE…
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What to know; GCB takeover of UT, Capital Bank
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…
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UT Bank customers rush to secure assets after GCB takeover
Following GCB Bank’s takeover of UT Bank, customers have scurried to branches of the bank in an attempt to secure their assets. The Bank of Ghana confirmed the takeover of UT Bank and Capital Bank by GCB Bank in a statement on Monday morning, announcing that it had “approved a Purchase and Assumption transaction with…
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GCB rebrands UT head office
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…
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UT, Capital Bank staff agitated over takeover by GCB
Information available to Citi Business News indicates that staff of UT Bank and Capital Bank are agitated over the takeover of the banks by GCB Bank. The staff who are reporting to work on Monday morning have been refused entry for the necessary processes to be completed. Citi Business News’ Anita Arthur reports from the…