Bank of Ghana has revoked the operational licenses of UT Bank and Capital Bank “due to severe impairment of their capital,” BOG has said in a statement.
The revocation has led Ghana Commercial Bank (now GCB) to take over both banks.
The statement issued by Bank of Ghana read: “Bank of Ghana has revoked the Licenses of UT Bank Ltd and Capital Bank Ltd. This action has become necessary due to severe impairment of their capital. The remaining assets and liabilities will be realised and settled respectively through a receivership process to be undertaken by Messers Vish Ashiagbor and Eric Nana Nipah of PricewaterhouseCoopers (PwC).
Bank of Ghana Revokes UT Bank And Capital Bank's Licenses–Both Banks Taken Over By GCB