GCB Bank has announced that it has maintained 22 branches of defunct UT and Capital banks.
This follows the completion of the full integration of the systems of the two banks.
The twenty two branches were part of a total of fifty-three branches assumed by GCB Bank in August 2017.
A statement on the move and copied to Citi Business News said the decision to maintain the 22 branches was ‘based on their location and accessibility to customers.’
It is unclear how many branches each belonging to UT or Capital banks have been retained.
But Citi Business News understands that the move brings GCB Bank’s total branches across the country to 183.
The Bank of Ghana in August 2017, allowed GCB Bank to assume management of UT and Capital Banks in a purchase and assumption agreement.
This also came on the back of the fact that the two banks faced serious liquidity challenges at the time which affected the continuous existence and the financial industry altogether.
70% staff of UT, Capital bank retained
Meanwhile GCB Bank has absorbed about seventy percent of the permanent staff of defunct UT and Capital Banks.
“As a result of the integration, staff numbers have been rationalized and GCB has absorbed almost 70 percent of the permanent staff of those banks,” GCB Bank said in a statement.
However, GCB Bank has dispensed the services of contract staff of the two banks.
By: Pius Amihere Eduku/citibusinessnews.com/Ghana