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

The Kenyan business community is seeking to improve ties with Ghana through exhibitions to build on links the two governments have crafted. Through kenya trade expo ghana, the business community has.

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Big Blow For Banking Sector Due To GHC2bn Bond For UT, Capital Banks’ Debt. The government is hoping to issue a 2 billion cedi bond to settle the total liabilities of UT and Capital banks estimated at 1.6 billion cedis. It also follows their absorption by GCB Bank in a purchase and assumption agreement, last year.

Announcing the take over of UT and Capital Banks on August 14th 2017, KubiLive.com after intensive research has the reason why GCB took over UT and Capital Banks. According to GCB, UT Bank and Capital Bank were deeply insolvent, meaning that their liabilities exceeded their assets, putting them in a position not to be able to meet their obligations as and when they fell due.

Furthermore, UT Bank and capital bank branches and ATMs will continue to operate as normal as GCB bank branches and ATMs and all staff, in the interim, will become staff of GCB bank and GCB Bank will negotiate the terms of their contract.

GCB – your bank for life. We offer accessible financial support wherever it’s needed through helpful service and expert solutions, to encourage business and enrich people’s lives. fixed deposit account – GCB Bank

GCB lays off 1000 workers of UT and Capital banks READ ALSO: Three reasons why Asamoah Gyan must retire from the Black Stars In this regard, laid off workers will have their salary arrears, wages, leave, severance pay and other entitlements taken care of my the management of GCB bank.

The GCB Bank lost almost half of the deposits it inherited from the UT Bank and the Capital Bank to panic withdrawals, four months after absorbing all the liabilities and selected assets of the.

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A. UT Bank and Capital Bank were deeply insolvent, meaning that their liabilities exceeded their assets, putting them in a position not to be able to meet their obligations as and when they fell due. Despite repeated agreements between the Bank of Ghana and UT Bank and Capital Bank to implement an.

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