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  • GCB wipes off UT bank logo at branches

    August 14, 2017 10:42 AM 3

    Rebranding of the head office of UT bank into GCB is currently underway following the takeover of their operations by the Ghana Commercial Bank. Insignia experts are currently at the scene doing the complete makeover. Staff of the company have been locked outside awaiting clearance before they could be given entry. The Bank of Ghana has approved the takeover

  • UT Bank, Capital Bank collapse: No panic withdrawals so far – BoG

    August 14, 2017 10:02 AM 1

    There has not been any panic withdrawals at various branches of both Capital and UT Banks, following GCB Bank’s takeover of both banks, Bank of Ghana has indicated. The Bank of Ghana confirmed the takeover of UT Bank and Capital Bank by GCB Bank in a statement on Monday morning, announcing that it had “approved a Purchase and Assumption transaction with GCB Bank Ltd that transfers

  • UT, Capital Bank staff agitated over takeover by GCB August 14, 2017

    August 14, 2017 9:21 AM 1

    Information available to Citi Business News indicates that staff of UT Bank and Capital Bank are agitated over the takeover of the banks by GCB Bank. The staff who are reporting to work on Monday morning have been refused entry for the necessary processes to be completed. Citi Business News’ Anita Arthur reports from the Headquarters of UT Bank in Airport

  • Ghana Stock Exchange suspends listing status of UT Bank

    August 14, 2017 9:21 AM 3

    “The non-publication is in breach of the continuing listing obligations under the GSE Listing Rules. The GSE has collaborated closely with Bank of Ghana (BoG), the regulator for banks on this matter,” the statement said. It added that the suspension was also necessary following the revocation of the licence of UT Bank by the Bank of Ghana (BoG) on Monday

  • What to know; GCB takeover of UT, Capital Bank

    August 14, 2017 8:58 AM 2

    Following the collapse of UT Bank and Capital Bank, and the subsequent takeover of the two banks by GCB Bank Ltd, the Bank of Ghana has issued a statement with FAQs (frequently asked questions) offering further clarification of the transaction. Q. Why has the Bank of Ghana decided to revoke the licenses of UT Bank and Capital Bank? Consequently, to protect

  • GCB Bank takes over UT and Capital Banks

    August 14, 2017 8:29 AM 3

    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 of the two banks that their deposits

  • GCB takes over UT and Capital Banks

    August 14, 2017 7:29 AM 2

    The Bank of Ghana has approved the takeover of Capital Bank and UT Bank by the GCB Bank Ltd. A statement by the Central Bank stated that it has “approved the Purchase and Assumption transaction with GCB Bank Ltd that transfers all deposits and selected assets of UT Bank Ltd and Capital Bank Ltd to GCB Bank Ltd.” The statement also added the “Bank of Ghana

  • Enterprise Group records 31% profit

    August 10, 2017 10:23 AM 1

    The Enterprise Group Limited recorded a net profit of GH¢68 million in 2016 as against GH¢51.5 million in 2015, representing an increase of 31.9 per cent. Net insurance premium rose from GH¢253.7 million in 2015 to GH¢308 million in 2016 while Net Investment Income increased from GH¢74.9 million in 2015 to GH¢85.6 million in 2016. Mr Trevor Trefgame

  • Bitcoin Just Surged to Yet Another All-Time High

    August 10, 2017 10:07 AM 2

    Bitcoin was worth less than $590 a year ago. Then early Tuesday, the cryptocurrency surged to yet another all-time high above $3,500, as investors likely pulled their funds from the new Bitcoin spinoff, Bitcoin Cash or "Bcash," to invest it in Bitcoin. That came after the two split Aug. 1, with Bitcoin holders receiving an amount of Bcash equivalent

  • Ghana inflation rate eases to 11.9% in July

    August 9, 2017 5:12 PM 13

    The year-on-year inflation rate fell for a third straight month this year to 11.9 percent in July from 12.1 percent in June on the back of a stable cedi and easing transport inflation. Addressing a news conference to announce the rate for July, Mr Baah Wadieh, Acting Government Statistician, said the absence of major shocks in the economy in the last three