Former Chairman of UT Bank is blaming the bank of Ghana for making it difficult for other surviving subsidiaries of the UT group to keep up.
Prince Kofi Amoabeng says recent statements from the central bank, suggesting the banks collapsed primarily due to mismanagement of depositors funds has practically eroded all the trust of its investors.
In a statement, he said that it saddens his heart that the UT brand, which was previously a super brand a few years ago has been totally defamed.
The statement which sought to clear the air on some payments made to Mr Amoabeng maintained the UT brand was guided by a vision of assisting Ghanaian businesses and individuals to achieve their aims, based on sound values, principles and discipline.
A report by the Bank of Ghana into the collapse of UT and capital banks have cited the boards of the two companies for misappropriating millions of cedis given them by the central bank.
The funds were meant to be a lifeline that should prevent them from going under, after their operations hit major financial difficulties that threatened their existence.
Mr Amoabeng said it breaks his heart that several workers who once prided themselves as UT staff and now have little or nothing to show for their years of dedication and service.
Investors now see the brand in bad light, leading to difficulties in the operations of other subsidiaries of UT that are still in existence.
Source: ghanaweb.com
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if he is not being truthful, bring the truth out. everything is with EOCO so go to EOCO and find out. ***barred word*** brats who have nothing doing and will not ascertain the facts as well. you all are so shallow minded. you all are one of those people who will cheat in exams and manipulate your results to look for a job because you have no detailed experience but talk trash. Just imagine someone saying "you are not being true" instead of you are not being truthful all these people think they have the right to type foolishness and can open their ***barred word*** mouth to spew out trash. indeed!!!
@yaw, you such an illiterate with little brain when it comes to finance. How did Kofi Amoabeng bleed the bank dry? do you know that everything any bank does needs the approval of the central bank? so there is nothing that was done that the bank of Ghana didn't know so definitely this capital bank issue, there should be someone behind closed door in BOG in the know. sit there and insult people behind the computer-what have you achieved wherever you are? little brainer
Ghana Web get your facts straight. Kofi Amoabeng is NOT the chairman of UT Bank
AFTER BLEEDING THE BANK DRY, YOU BLAME BANK OF GHANA??? THESE BIG MEN ARE SO MUCH LIKE LITTLE KIDS. VERY MUCH LIKE ADAM AND EVE BLAMING EVERYONE FOR THEIR WOES!!!
The truth hurts but it must be told at all times
You are not being true.