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UT Bank information


UT Bank
Company typePublic company
IndustryFinancial services
Founded2009 (2009)
DefunctAugust 14, 2017 (2017-08-14)
FateLicense revoked and taken over
SuccessorGCB Bank
HeadquartersAccra, Ghana
Key people
Joseph Nsonamoah, chairman and co-founder; Prince Kofi Amoabeng, co-founder; Stephen Antwi-Asimeng, CEO
ProductsLoans, investments, corporate banking, international banking, commercial banking
RevenueIncrease Aftertax: US$6.93+ million (GHS:13.1 million) (2011)
Total assetsUS$378.4 million (GHS:712.9 million) (2011)

UT Bank (UTB), formally known as UT Bank Ghana Limited, was a commercial bank in Ghana until 2017 when its license was revoked by the Bank of Ghana due to severe impairment of their capital and was taken over by GCB Bank.[1]

As of February 2011, the bank was one of the commercial banks licensed by Bank of Ghana, the national banking regulator.[2] UTB was a medium-sized financial services provider headquartered in Ghana with subsidiaries in West Africa and Western Europe.[3]

On August 14, 2017, the bank of Ghana announced it had revoked its license, together with Capital Bank. The bank was subsequently taken over by GCB Bank.

  1. ^ "Prince Kofi Amoabeng's UT Bank Collapses, GCB To Take Over". fnnewsonline.com. Retrieved 2017-09-05.
  2. ^ List of Licensed Commercial Banks in Ghana
  3. ^ "Audited 2011 Annual Report" (PDF). 2011.

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