Suspicious take over by GCB

GCB New Logo
GCB New Logo

This take over raises a pool of relevant questions of which no one seems to be asking ….

How do we explain to Ghanaians, a bank which was adjudged the best growing bank in just 2016 run into financial distress in a year after? Capital bank ?

Is it a deliberate attempt by the owners of the two banks to use their political connections to hand their debt to the state to settle ?

Was the process of asset liquidation and acquisition followed ? Where is the audit and review reports of the banks to
Confirm the the truth in this transactions
Was the public notified ?

Why the hasty attempt by GCB to take over in a very day the communication about the liquidation of the two banks hit the public

Was the sale of the two “dept inclined” banks advertised ? How many interested
parties express interest in the take over.

What were the modalities used in selecting GCB ?

Is this take over part of grand scheme to bail political financiers from financial mess, using the tax payers money to buy a sinking bank?

What happens to people who supervised the liquidation of these two banks under the auspices of gross financial incompetence and mismanagement ?

Did the banks put their customers on acquisition notice ?

What if am a customer, and l don’t ever want to have any financial dealings with the take over bank, GCB?

Mensah Otabil, who appears to be one of owners of Capital Bank, a critic of Past govt on mismanagement, can we also say he’s incompetent for driving capital bank into the ditch?

According to press release by BoG, the two banks have been on a life-support for two years, and that the GCB has pumped had huge sums of money into their operations in a attempt to revitalise and resuscitate these two banks, how true is this information considering the fact that capital bank emerged as Best growing Bank in ghana in 2016, was the bank in deep financial mess when this award was given ?

With GCB’s public admission of retaining just a percentage of the numerous workers of the two banks, who is going to pay the retrenchment and reparation package for the affected workers who are now in anguish and frustrations ?

Is GCB being force by some hands at the corridors of power to buy the two bankrupt banks for fester personal interest, if not what them is the interest of the GCB chasing a financially distressed bank?

Let’s ask the relevant questions !!

-Ivan Kyei Innocent

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