Bank Of Ghana Revokes Licenses Of UT And Capital Banks

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The Bank of Ghana (BoG) has revoked the licenses of two banks, UT Bank Limited and Capital bank Limited.According to statement released by the Central bank, the move has become necessary “due to the severe impairment of their capital.”The statement added that the assets and liabilities of the two banks will be identified and settled in a receivership process.“The Bank of Ghana has revoked the licenses of UT Bank Ltd and Capital Bank Ltd. This action has become necessary due to severe impairment of their capital.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).Meanwhile, BOG has tasked GCB Bank  to control all the offices of the two banks and has assured customers to remain calm as their deposits are safe.“The main offices and branches of UT Bank and Capital Bank will be under the control of GCB Bank and will be opened at 1 PM today for normal business transactions.”Call our Editor on 0209391902 or click here and inform us via Whatsapp. You could equally email your stories or articles to [email protected] and we’ll surely put them online

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ByEditor-At-Large

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