The Bank of Ghana has revoked the License of UT Bank and Capital Bank, the Central Bank has announced.
A statement issued by the BoG on Monday August 14 said: “The Bank of Ghana has approved a purchase and assumption transaction with GCB Bank Limited that transfers of all deposits and selected assets of UT Bank Ltd and Capital Bank Ltd to GCB Bank Ltd.
“The Bank of Ghana has revoked the licenses of UT Bank Ltd and Capital Bank Ltd. This action has become necessary due to sever impalment of their capital. The remaining assets and liabilities will be realiSed and settled respectively through a receivershop process to be undertaken by Messers Vish Ashiagbor and Eric Nana Nipah of PrcewaterhouseCoopers.
“The main offices and braches of UT Bank and Capital Bank will be under the control of GCB Bank and will be opened at 1 PM today for normal business transactions.”
Head of Public Affairs of the BoG Bernard Otabil told Chief Jerry Forson, host of Ghana Yensom on Accra 100.5FM on Monday that: “Deposits of customers of these banks are safe.”
Source: Ghana/AccraFM.com
