Accra, August 14, 2017//-The faith of staff of UT Bank Ltd and Capital bank Ltd, remains to hang in the balance as GCB Bank Limited begins the processes to takeover fully the assets and liabilities of these banks.
Even though the Central Bank and Managing Director of GCB Bank Ltd have assured that, there will be no layoffs immediately under arrangement, thebftonline.com has gathered there is increased anxiety among staff of these banks on the possible layoffs following the announcement that, the Bank of Ghana has approved a Purchase and Assumption transaction which allows, UT Bank and Capital Bank Ltd’s deposits and selected assets to be transferred to GCB Bank Ltd.
Staff of the two banks who also are agitated over the takeover announcement, have questioned why they were not informed by their managements, ahead of the formal announcement by the central bank.
At the Head Office of UT Bank Ltd, during a visit by thebftonline.com, staff who are reporting to work were standing outside yet to be given access to the building.
According to some senior officers who spoke to thebftonline.com on condition of anonymity said the workers have been refused entry for some necessary processes to be completed.
The Office premises which had a sizable number of security personnel who were there to ensure law and order was not accessible to Journalist as the Policemen who were there allowed only staff of the bank and other companies to enter the premises.
In the statement issued by the Bank of Ghana today on the issue of employment retention, the central bank said “GCB was selected amongst 3 others on the basis of purchase price, cost of funding, branches to be retained, staff to be employed and impact on the acquiring bank’s capital adequacy ratio.”
Meanwhile our checks at the Headquarters of Capital Bank at Spintex, revealed calm business environment, even though banking hall was closed with customers being required to communicate with GCB bank for any transactions.
Customers were assured that, “the main offices and branches of UT Bank and Capital Bank will be under the control of GCB Bank and will be opened today at 1pm for normal business transaction.”
With a serene environment, thebftonline.com gathered that, management and Board of Capital Bank and GCB Bank were locked in a board meeting.
There were only three police officers and other private security officers as at 9am on the premises.
In a related development, the governor of the central bank Dr. Ernest Kwamina Yedu Addison has again assured the customers of the two insolvent banks that, they can continue normal banking business at all UT Bank and Capital Bank facilities which are now branches of GCB bank.
Addressing the press this morning he said, “the approval by the Bank of Ghana of this transaction is to strengthen Ghana’s banking sector, ensure financial stability and protect depositors’ funds. The Bank of Ghana reassures customers of UT Bank and Capital Bank that their money is safe and they can continue to do business at their respective branches which are now the branches of GCB Bank.”
Thebftonline
