UT, Capital Banks suffered impairment to capital - Bank of Ghana

| Updated Aug 15, 2017 at 4:11pm


Mr. Raymond Amanfu


The Bank of Ghana says the UT bank and Capital bank suffered impairment to their capital because they moved away from their core areas of specialisation.

Speaking at a media briefing on GCB Bank's acquisition of the two banks, the head of banking supervision, Mr. Raymond Amanfu says all deposits and liabilities as well as performing loans will be taken over by the GCB bank.

Meanwhile, the Ghana Stock Exchange (GSE) with effect from Monday August 14, 2017 has suspended the listing status of UT Bank Limited indefinitely.

The suspension according to the GSE has become necessary due to the revocation of the licence of UT Bank by the Bank of Ghana in a letter to the Exchange dated August 11, 2017.