Minority demands probe into collapse of UT, Capital banks

The Minority caucus in Parliament is calling for a bi-partisan investigation into the factors that led to the collapse of UT Bank and Capital Bank.
The two banks were ceded to GCB Bank by the Bank of Ghana under a Purchase and Assumption transaction. Customers of the two private banks have become customers of GCB Bank.

At a press conference on Tuesday, Minority Spokesperson on Finance Cassiel Ato Forson says the Central Bank must come clear on the transaction, especially whether the receiving bank is not burdened with non-performing loans from the two distressed banks.

According to the minority, they, as a matter of urgency, will be requesting, through the Rt. Hon. Speaker, that the Minister of Finance, and the Governor of Bank of Ghana be invited to brief Parliament about the development and to give assurance that the depositors will suffer no loss.

”We also urge Bank of Ghana to conduct an investigation as to what occasioned this development.”

The minority also noted as unimaginable theseveral enviable awards these two (2) banks had won at recent high profile ceremonies and entreated the BoG to further strengthen its supervisory and monitoring responsibilities.


Source: otecfmghana.com

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