The Facebook account of UT Bank has been taken down whiles Capital bank's account is still active
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This follows the BoG’s approval of 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.
READ MORE: UT workers locked out
According to the BoG, the move has become necessary due to a severe capital impairment of the two financial institutions.
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The Facebook account of UT Bank has been taken down whiles Capital bank's account is still active.
Some staff of the GCB Bank are supervising the removal of logos of UT Bank and Capital bank.
The logos of the two banks are being replaced with that of GCB Bank.
