Staff Of UT And Capital Banks Facing Layoffs As GCB Looks To Downsize



The management of GCB Bank is set to downsize staff at the two collapsed banks they have taken over, the CEO has announced.
Raymond Sowah, CEO of the state owned entity, said at a press conference Tuesday that they would conduct a skills assessment test on the employees of the two banks, to enable them decide on who to keep and who to let go.
“We shall conduct a skills assessment as part of integration process. We need to know that we can bring everyone onboard or not. This is an expanded institution and as we go through the integration we should know what jobs to close down and what jobs to retain,” Sowah said at Tuesday’s presser.
Capital Bank and UT Bank where on Monday announced to have had their licenses revoked and sold to GCB Bank.
The Bank of Ghana announced the deal, pointing to capital issues with the two indigenous banks.
Sowah, whose GCB Bank had taken over the two banks, assured depositors of the two that they had nothing to fear and that their monies were safe.
“We will take this opportunity to assure all depositors of the two erstwhile banks that their deposits are protected. You can go to the branches that you have used from time immemorial and you will be served.
“GCB was the most profitable bank last year. We must be doing something right to have gotten ourselves to that position. Banks go through some cycles, some good some bad. We are aware of the needs of the customer base that we have and I also want to assure you that we did not take the decision to assume the management of these two banks lightly.
“We recognize that there are certain things that we can learn from them and as well as certain things that they can learn from us. And that is why we will ensure that we integrate with these institutions seamlessly so that they can bring whatever good they have to deal with their customers.” he added.



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