Customers of Capital Bank Ashaiman branch on Monday [14/08/2017] afternoon, queued at the bank premises demonstrating their eagerness to withdraw their monies upon hearing the bank been revoked of its license to operate by the directive of the Bank of Ghana (BoG)
The announcement which did not to have gone down well with the customers, seemed to have sparked the feeling of sudden fear and panic among depositors as to whether or not their monies are safe.
The Bank of Ghana on August 4, 2017, approved the purchase and assumption transaction with GCB bank Ltd that transfers, all deposits and selected assets of UT Bank Ltd and Capital Bank Ltd to GCB Bank Ltd due to severe impairment of the capitals of the aforementioned license revoked banks.
Ashaimanonline.com was at the Ashaiman branch of the Capital bank to witness how customers of the bank reacted to the situation.
Some customers seemed disgruntled about the issue. They stated in plain words how awful and disappointed they are about the ill operations of the bank. They expressed the level of fear and panic the issue had created.
Mr. Yaw Sarfo said “if the ATM was working properly at the time I got here, i would have withdrawn all my monies before the bank opened and/or anyone else got here.
“If they knew they couldn’t manage the affairs of the bank properly, why didn’t they employ those who are well vested in banking to do so? In fact am really disappointed and don’t think I will ever save in any bank again. Its better I hide my money in my house or somewhere safer as our ancestors did, so that i don’t become a victim of this situation again.” Hajia Maamuna Tu Mohammed told ashaimanonline.com.
Hajia Maamuna Tu Mohammed angrily walking away from the bank premises
The incident presupposes that a larger number of the public either did not understand or hear the information from the BoG that all deposit customers will continue to have access to their funds despite the change of ownership and management.
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