Prince Kofi Amoabeng’s UT Bank Collapses, GCB To Take Over

The Ghana Commercial Bank (GCB) is on its way to take over Entrepreneur Prince Kofi Amoabeng’s UT Bank and another Ghanaian bank Capital Bank.

A statement from the office of Bank of Ghana (BoG) as sighted by FN News said “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 statement further stated that, the Central Bank has “revoked the Licenses of UT Bank Ltd and Capital Bank Ltd. This action has become necessary due to severe impairment of their capital.”

This action according the Central Bank is part of government’s commitment towards the restructuring of the banking systems in country.

GCB has revealed that, it will maintain the staffs of the UT bank and Capital Bank.

Source: www.fnnewsonline.com

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