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The former founder and CEO of the defunct UT Bank, Prince Kofi Amoabeng, finally revealed the true reasons for the collapse of UT Bank.
According to Mr. Amoabeng, various reasons, including acts of gross theft by some of the staff of the now defunct bank, as well as high levels of non-performing loans, are the reasons for the bank’s collapse.
In an interview that has not yet aired with Kwabena Kyenkyenhene Boateng on Accra MX 24 television, Mr. Amoabeng claimed that several people who joined the bank were “simple thieves” who participated in acts that compromised the bank.
When asked whether or not he anticipated a Bank acquisition due to high levels of delinquent loans, Amoabeng responded negatively.
“I knew the baby was sick to the point that I had to step up to have someone else take over as CEO to restructure it. I didn’t expect the baby to die because of the brand we had created and the impact we had created and had on the economy. “
Amoabeng cited loans such as those disbursed to Dzata cement and its inability to repay those loans as some of the reasons the bank “got into trouble.”
Although he recounts all these quite worrying moments, Amoabeng says he does not regret his decision to advance this line of credit to companies that belong to the former president’s brother.
On former President Mahama’s promises to return the collapsed banks to their owners if given the go-ahead in the December elections, Prince Kofi Amoabeng said such promises were not feasible, adding that they are only good for the ears. .
Prince Kofi Amoabeng’s full interview airs this Saturday and Sunday, November 7 and 8 at 6:00 pm on Accra-based MX 24 TV.
Source: King Edward Ambrose Washman Addo / Peacefmonline.com / Ghana
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