The nation’s head bank, the Bank of Ghana has charged UT Bank And Capital Bank for Overpowered liabilities on Assets and as a result, annulled their operating licenses.
The Mother Bank has assured customers of UT Bank and Capital Bank that they shouldn’t worry because their money is safe with them.
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After the licenses annulment by the Bank of Ghana, both of the banks have been left under the care of GCB Bank Ltd.
This means that all main offices and branches of both UT Bank and Capital Bank will be taken over by GCB Bank.
A released statement by the Bank of Ghana says:
“The Bank of Ghana has approved a Purchase and Assumption transaction with GCB Bank Ltd that transfers all deposits and selected assets of UT Bank Ltd and Capital Bank Ltd to GCB Bank Ltd.
“The Bank of Ghana has revoked the Licences of UT Bank Ltd and Capital Bank Ltd. This action has become necessary due to severe impairment of their capital.”
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The released statement, however, assured customers of the said banks that their transactions will remain intact, while also confirming that the staff will be maintained, but will now be considered as employees of GCB.
Take your time and read the full statement from the Bank of Ghana below:
GCB BANK LTD TAKES OVER UT BANK LTD AND CAPITAL BANK LTD
The Bank of Ghana has approved a Purchase and Assumption transaction with GCB Bank Ltd that transfers all deposits and selected assets of UT Bank Ltd and Capital Bank Ltd to GCB Bank Ltd.
The Bank of Ghana has revoked the Licences of UT Bank Ltd and Capital Bank Ltd. This action has become necessary due to severe impairment of their capital.
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