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The move according to the Bank of Ghana is. gcb bank is taking over Capital Bank and UT Bank. This is due to the severe financial challenges to the two banks.

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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.

UT Bank, Capital Bank Limited Taken Over By GCB Bank Ltd. It said the main offices and branches of UT Bank and Capital Bank would be under the control of GCB Bank and would be opened at 1300 hours on Monday for normal business transactions. The statement assured customers of UT Bank and Capital Bank that they would continue to have access.

GCB BANK TAKES OVER UT BANK AND CAPITAL BANK FREQUENTLY ASKED QUESTIONS Q. Why has the Bank of Ghana decided to revoke the licenses of UT Bank and Capital Bank? 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 News GCB bank few months after taken over from UT and capital banks are set to send home over 700 workers of the two defunct banks. According to a report put up by s GCB bank few months after taken over from UT and capital banks are set to send home over 700 workers of the two defunct 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.