The licensing of three new banks bring the number of licensed banks to 34 after the license of two banks were withdrawn on Monday (August 14, 2017).
This will bring the number of licensed banks to 34 after the license of two banks were withdrawn on Monday (August 14, 2017).
These banks are UT Bank and Capital Bank. The GCB Bank has taken over the two banks.
Addressing a press conference in Accra on Monday (August 14, 2017) the governor of the Bank of Ghana Dr Ernest Addison said the three banks have gone through all due process and have been licensed for takeoff.
The Ghana Stock Exchange (GSE) on Monday suspended UT Bank Limited from entities listed on the country’s stock exchange.
This follows the revocation of UT Bank and Capital Bank’s licenses. The action, according to the Central Bank “has become necessary due to severe impairment of their capital.”
The two banks have been taken over by the GCB Bank and that the remaining assets and liabilities will be realised and settled respectively through a “receivership process to be undertaken by Messers Vish Ashiagbor and Eric Nana Nipah of PricewaterhouseCoopers (PwC).”
After the takeover, the offices of UT Bank and Capital Bank were rebranded on Monday to reflect the current ownership.
Meanwhile, GCB bank has assured customers of the two collapsed banks that their monies are safe following the takeover.