GCB Bank LTD Takes Over UT Bank and Capital Bank

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A press statement released today by The Communication Department of Bank of Ghana indicated that, Bank of Ghana has approved a 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. This is as a result of the initiative of the Bank of Ghana to strengthen Ghana’s banking sector, ensure financial stability and protect depositors’ funds.

On the other hand, the Press Statement assured customers, stakeholders of these banks and the general public not to panic and that the main offices of both banks will be opened at 1pm today but operations will be under the control of GCB bank.

It also assured that all deposit customers of both banks will continue to have access to their funds and also all ATMs of thes banks will be operational.

Staffs of UT Bank and Capital Bank are now interim staff of GCB while the bank negotiate the terms of their contract. Bank of Ghana assures the general public that all customers can continue normal banking business at all UT Bank and Capital Bank facilities which are now branches of GCB.

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