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

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

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.

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The suspected insolvency in some commercial banks that has been brewing for some time now seems to have finally hit reality with the announced take-over of two commercial banks by the GCB Bank Ltd. The Bank of Ghana announced this morning that the GCB Bank has taken over UT and Capital Banks, and assured customers.

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The GCB Bank Limited has recorded a decline in its earnings for the 2017 financial year following its purchase and assumption of UT Bank Limited and Capital Bank Limited in the year under review. The Bank’s profit before tax declined by 29 per cent from GH467 million in 2016 to GH332 million in 2017.

What to know about GCB takeover of UT, Capital Banks The GCB Bank has acquired UT Bank and Capital Bank following the distress of the two banks, the Bank of Ghana (BoG) has said.

GCB Bank M.D Ray Sowah speaks on takeover of UT and Capital Banks. GCB Bank M.D Ray Sowah speaks on takeover of UT and Capital Banks. Skip navigation. GCB MD addresses press on takeover of UT.

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