GCB Deceived Defunct UT And Capital Bank Staff – Former Power Minister

Former Power Minister, Kwabena Donkor has described as shameful the actions of the Bank of Ghana following the termination of appointments of about 450 workers of defunct Capital and UT banks.

He said GCB has lost its integrity after it took a swipe at its own words regarding the job security of these pulled employees.

XYZ business understands the workers were handed the termination letters on Monday in addition with a month’s salary.

In an interview with XYZ business, the Pru East legislator, said regulatory bodies should take serious actions in making the banking sector more viable to prevent job losses.

He is therefore calling on the Finance and Employment and Labour Relation ministries to outline a proper road map to prevent future occurrences.


It could be recalled that GCB last month took over Capital Bank and UT bank following the banks inability to meet the banking capital requirement. This was after the revocation of the license of the two banks by the Bank of Ghana.

In a statement , GCB stated: “UT Bank and Capital Bank branches and ATMs will continue to operate as normal as GCB bank branches and ATMs.”