{"id":345132,"date":"2017-08-15T17:26:58","date_gmt":"2017-08-15T17:26:58","guid":{"rendered":"http:\/\/citifmonline.com\/?p=345132"},"modified":"2017-08-15T17:26:58","modified_gmt":"2017-08-15T17:26:58","slug":"bog-boss-finance-minister-must-face-parliament-minority","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/08\/bog-boss-finance-minister-must-face-parliament-minority\/","title":{"rendered":"BoG boss, Finance Minister must face Parliament \u2013 Minority"},"content":{"rendered":"

The Minority in Parliament has requested that the Minister of Finance, Ken Ofori Atta and Governor of the Bank of Ghana, Dr Ernest Addison be hauled before Parliament to answer questions on GCB Bank\u2019s takeover of UT Bank and Capital Bank.<\/p>\n

The two banks, according to the Minority, will also be required to \u201cgive assurance that the depositors will suffer no loss\u201d following the development.<\/p>\n

Their request follows the Central Bank\u2019s directive instructing GCB Bank to take over both UT Bank and Capital Bank over what it described as severe impairment of capital.<\/p>\n

\"The<\/p>\n

They also urged BOG to “ensure that the acquiring bank (GCB), which is the largest indigenous bank, with both public and private shareholders, is not overburdened unnecessarily with non-performing loans and impaired assets.”<\/p>\n

GCB was authorized to take over the two banks because according to the Central Bank, they had \u201csevere impairment of their capital.\u201d<\/p>\n

The collapsed banks were also \u201cunable to develop an acceptable plan\u201d, according to the Central Bank which indicated in a statement that it made efforts to help UT Bank and Capital Bank recover via private alternatives.<\/p>\n

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The list below tables the Minority’s demands following the collapse of the two banks<\/strong><\/p>\n

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