GCB Bank lost GHȼ1bn in 4 months after absorbing UT, Capital banks

The gcb bank lost almost half of the deposits it inherited from the UT Bank and the Capital Bank to panic withdrawals, four months after absorbing all the liabilities and selected assets of the.

9 9SharesQ. Why has the Bank of Ghana decided to revoke the licenses of UT Bank and Capital Bank? A. UT Bank and Capital Bank were deeply insolvent, meaning that their liabilities exceeded their assets, putting them in a position not to be able to meet their obligations as and when they fell due.

GCB takeover as BoG withdraws licenses of UT, Capital Bank. In the law, Sections 104-107 discusses prompt corrective actions for banks with various degrees of capitalization requiring the regulator to step in after 90 days or 100 days, if the bank in question fails to recapitalise or submit to the Bank of Ghana, a capital restoration plan. Also,

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.

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GCB Bank M.D Ray Sowah speaks on takeover of UT and Capital banks. gcb bank M.D Ray Sowah speaks on takeover of UT and Capital Banks. Skip navigation. GCB MD addresses press on takeover of UT.

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UT Bank, Capital Bank Limited Taken Over By GCB Bank Ltd. It said the main offices and branches of UT Bank and Capital Bank would be under the control of GCB Bank and would be opened at 1300 hours on Monday for normal business transactions. The statement assured customers of UT Bank and Capital Bank that they would continue to have access.

GCB BANK TAKES OVER UT BANK AND CAPITAL BANK FREQUENTLY ASKED QUESTIONS Q. Why has the Bank of Ghana decided to revoke the licenses of UT Bank and Capital Bank? A. UT Bank and Capital Bank were deeply insolvent, meaning that their liabilities exceeded their assets, putting them in a position not to be able to meet their obligations as and when

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