There are some positives for customers of UT and Capital Banks in the GCB-takeover

There are some positives for customers of UT and Capital Banks in the GCB-takeover

It is not all gloomy in the takeover of UT Bank and Capital Bank by the largest indigenous bank in Ghana, GCB Bank.

Get more on current and trending issues in Ghana here on YEN.com.gh

After the news of the said takeover happening after the Bank of Ghana revoked UT Bank and Capital Bank licences, the media and some sect of Ghanaians have fueled a frenzy crying foul with fear and trepidation.

READ ALSO: Everything Fancy Gadam does is a hit and YEN.com.gh know the incredible reasons why

But whereas the prospects may look very bad, there are some good takeaways from the takeover and YEN.com.gh has listed a few;

1 - GCB was the best among the banks who wanted to take over

There are some positives for customers of UT and Capital Banks in the GCB-takeover

There are some positives for customers of UT and Capital Banks in the GCB-takeover

The takeover was not just handed over to GCB Bank out of the blue.

According to the official release for the BoG, GCB was selected amongst 3 others on the basis of purchase price, cost of funding, branches to be retained, staff to be employed and impact on the acquiring bank’s capital adequacy ratio.

2 - People are not losing their jobs...for now

There are some positives for customers of UT and Capital Banks in the GCB-takeover

There are some positives for customers of UT and Capital Banks in the GCB-takeover

Yeah, this may not looks to be a very assuring point, but all communication from the parties involved including the regulator have stated that staff of the various banks would not face immediate termination.

The press release from the BoG, however, noted that there could be some renegotiations...and a lot can go wrong after that. Yikes!

3 - Your money is safe

There are some positives for customers of UT and Capital Banks in the GCB-takeover

There are some positives for customers of UT and Capital Banks in the GCB-takeover

Yhup, your money is completely safe and tucked away in deposits that have since the takeover been handed over to custody of GCB Bank.

Some might even say your money is in safer hands now as GCB is a state-owned bank and can rarely fold without the state taking up whatever shock that can close a shutdown.

4 - You can go to the same branch and do transactions

There are some positives for customers of UT and Capital Banks in the GCB-takeover

There are some positives for customers of UT and Capital Banks in the GCB-takeover

If you are a customer of UT or Capital Bank and your favorite branch is your closest branch, nothing has technically changed.

You can still walk into the same branch and make the same transactions as you would earlier...only this time you would be banking at GCB Bank and not UT Bank or Capital Bank.

If you are an earlier customer of GCB...hurray!!! More branches for you

5 - ATMs will work fine

There are some positives for customers of UT and Capital Banks in the GCB-takeover

There are some positives for customers of UT and Capital Banks in the GCB-takeover

How do GCB atms work? Just fine we have been told, so all atms of UT or Capital should be just fine!

READ ALSO: Here is how social media reacted to the UT and Capital Banks brouhaha

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Source: Yen.com.gh

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