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

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GCB Bank takes over UT Bank and Capital Bank Monday, 14 august 2017 08:00 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 last year approved the takeover of Capital Bank and UT Bank by the GCB Bank Ltd after it revoked their licences. GCB was selected amongst three others on the basis of purchase vice, cost of funding, branches to be retained, staff to be employed and impact on the acquiring bank’s capital adequacy ratio.

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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.

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The Bank of Ghana (BoG) has given GCB Bank Ltd the green light to acquire two local banks UT and Capital bank. A statement from the central bank and copied to Citi Business News said, ‘The Bank.

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 collapsed banks, its Deputy Managing Director in charge of Finance, Socrates Affram, has disclosed.

Yen.com.gh News GCB bank few months after taken over from UT and capital banks are set to send home over 700 workers of the two defunct banks. According to a report put up by s GCB bank few months after taken over from UT and capital banks are set to send home over 700 workers of the two defunct banks.

GCB – your bank for life. We offer accessible financial support wherever it’s needed through helpful service and expert solutions, to encourage business and enrich people’s lives. Move On UT/Capital Banks Strategic – GCB Bank MD – GCB Bank