Bank of Ghana asked to rescue Unity Rural Bank

Some customers of Unity Rural Bank in Ho, formerly, Adaklu Rural Bank, have appealed to the Bank of Ghana to rescue the Bank from “total” liquidation.

They said the Bank was struggling to stay afloat and needed the intervention of Bank of Ghana to survive.

The customers who made the appeal through the Ghana News Agency (GNA) said the Bank had been struggling to pay salaries and pensions since 2015, with some clients spending days at the banking hall for salaries.

Mr Prosper Deh, a Public Servant said attempts to withdraw part of his savings since August 2016 has not been successful.

Other customers said their salaries are sometimes paid in bits with heavy police presence in the banking hall and asked the Bank of Ghana to take over operations of the Bank.

Mr Charles Gatsey, acting General Manager of the Bank, said it was true that the Bank was facing liquidation challenges but it was putting measures in place to stabilize the situation.

“We are retrieving loans given out and now able to secure salaries and pensions which was a problem months ago. The police are helping us to retrieve more loans,” he said.

Mr Gatsey said it was not necessary for the Bank of Ghana to come in because, “this is a small Bank,” and gave assurance that the situation would be stabilized in six months.

This week the Bank of Ghana revoked the licenses of UT Bank and Capital Bank following the inability of the Banks to turn around their negative capital adequacy position and asked the GCB Bank Limited to take over operations of the Banks.

Source: GNA