Connect with us

Hi, what are you looking for?


2 Ghana banks closed

Bank of Ghana has revoked the license of two commercial banks – UT Bank and Capital Bank – as these banks have been found to be unable to turn around their negative capital adequacy position. The central bank feels the continued encouragement of the operations of these institutions could endanger the banking industry and hence the action. The regulator was forced to take this action based on provisions of the current Banking and Specialized Deposit Taking Institutions Act. Legally the two banks now cease to exist and the central bank is likely to take over the assets and liabilities of these two banks.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

PR Newswire

Copyright © Glocal Infomart Pvt Ltd. All rights reserved. Usage of content from website is subject to Terms and Conditions.