Two banks; UT and Capital banks collapse in Ghana

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Ghana’s Central Bank has revoked the licenses of two banks, UT Bank and Capital Bank, which have collapsed due to a shortage of funds.

The banks have been taken over by Ghana Commercial Bank and the money that people have in their accounts has been guaranteed.

The two banks will continue to operate normally after the transfer is complete this afternoon.

This latest development is part of measures to restructure the banking sector and protect the funds of depositors in the country.

 

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