GCB Bank Ltd has announced that the transition of UT and Capital bank into GCB will take up to 6 months.
The bank which earlier announced that it had assumed the businesses of UT Bank Ltd and Capital Bank in a purchase and assumption transaction by the Bank of Ghana, effective Monday, August 14, 2017 says GCB has in effect assumed the 53 branches of the two banks thereby growing its network to 214 branches across the country.
GCB Bank Ltd., is the largest indigenous bank in the country with an asset base of GHS 6.3 billion.
According to GCB in a statement copied to Citi Business News, it will bring its experience, expertise and capacity for managing a sustainable and profitable institution to the assumed businesses.
Meanwhile customers of UT and Capital Bank have been ‘assured of unfettered access to their funds through their known channels and staff of the assumed banks, working with GCB staff to ensure seamless transactions. Corporate and SME customers will continue to work with their Relationship Managers in collaboration with GCB to facilitate a smooth transition and business continuity.’
Also according to GCB, ‘the existing channels of service will remain functional while they are rebranded to reflect the change in ownership. During the transition period of up to six months, this arrangement will prevail while procedures and processes are consolidated and the branches assessed and streamlined.
Suppliers of the two institutions will need to register with the Bank’s Support Services Division for integration onto the GCB platform’.
By: Vivian Kai Lokko/citibusinessnews.com/Ghana