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

bond ceo rallies support for microfinance sector . MFIs are victims of banking sector cleanup – Isaac Adongo

The GCB Bank has acquired UT Bank and Capital Bank following the distress of the two banks, the Bank of Ghana (BoG) has said. The development is in line Section 123 of the new Banking Act, which states that when a bank is in distress, the Bank of Ghana revokes their license, appoints a receiver and then look for a buyer.

The Bank of Ghana assures the public that all customers can continue normal banking business at all UT Bank and capital bank facilities which are now branches of GCB bank. The approval by the Bank of Ghana of this transaction is to strengthen Ghana’s banking sector, ensure financial stability and protect depositors’ funds.

UT Bank and Capital Bank started collapsing during John Mahama’s Administration due to the poor management of the economy. From the officials of these two Banks and from the records of Bank of Ghana, UT Bank and Capital Bank were on life support for survival since 2015.

The Minister for Works and Housing has praised the Vigilantism and related offences bill before Parliament but added it is the enforcement of laws that will end vigilantism not just the laws in.

The GCB Bank has acquired UT Bank and Capital Bank following the distress of the two banks, the Bank of Ghana (BoG) has said. The development is in line Section 123 of the new Banking Act, which states that when a bank is in distress, the Bank of Ghana revokes their license, appoints a receiver and then look for a buyer.

Gateway First bank appoints head of community reinvestment, fair lending First american: mortgage rates champion growth in potential existing home sales; AG settlement starts the clock on short sales; MBA Servicing: Be proactive and work with state AGs on complaints; Jobless claims slip by 2,000 filings; Gateway First Bank appoints head of community reinvestment, fair lendingFour of the best commuter towns for outstanding schools, all within 45 minutes of London To help London workers in their search, Leaders has measured the cost of property and travel against travel time by rail to determine the very best places to live. Here is our countdown of the top ten commuter towns for families within 90 minutes of London. 10) Cambridge. Three-bedroom house: 300,000 – 850,000 Annual rail fare: 4,648

GCB’s acquisition of Capital and UT banks was strategic – Management.. Mr Sowah said although the bank would absorb staff of the two banks, it would cut down their numbers to meet the.

GCB Bank records decline in earnings following UT, Capital Banks assumption. The Bank also recorded growth of 58.4 per cent in its total assets, from GH6,075 million in 2016 to GH9,627 million in 2017, a growth in deposits of 63 per cent from GH4,260 million in 2016 to GH6,924 million in 2017. In light of these modest gains and.