Prince Kofi Amoabeng, the president of UT holdings has said that although he has learnt a lot of lessons from the collapse of UT Bank, he will bounce back stronger.
Speaking at the Margins Youth Empowerment Ceremony in Accra, Mr Amoabeng disclosed that the revocation of UT Bank's license came as a shock to him and management of the bank, but a lot of lessons were learned through the ordeal.
"I don't feel too bad about it, I think it's the state institutions that are working. There's a bit about the process which I felt wasn't necessary. There's been a lot of lessons learned and I hope to bounce back stronger,", the former UT Bank CEO said.
Sharing his impressions on the recent managerial takeover of Unibank by the Bank of Ghana, he described it as 'worrying', adding that Bank of Ghana could have used other means.
"I think it's a bit worrying with Unibank coming on the heels of UT and Capital Bank...I think it’s better sometimes to take positive action and air things out and solve it than keep things under the rug," Mr Amoabeng said.
In August 2017, the Bank of Ghana revoked the Licences of UT Bank Ltd and Capital Bank Ltd. The action, according to the Central Bank became necessary due to severe impairment of their capital and excessive liabilities.
Bog Governor, Dr Ernest Addison has said the collapse of UT Bank was as a result of a lack of good corporate governance.
The Bank of Ghana on Tuesday, March 20, 2018, appointed audit firm KPMG to take over management of locally owned Unibank.
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