Infographic: How Capital Bank acquired its license

Infographic: How Capital Bank acquired its license
Source: Ghana | Myjoyonline.com
Date: 09-08-2018 Time: 02:08:38:pm

There have been revelations by the Central Bank detailing what auditors term “willful deceit” on the part of shareholders and directors of defunct UT and Capital Banks. 

A 2014 Bank of Ghana (BoG) Examination and Inspection Report by Boulders and Advisors Limited also found that there was a significant amount of inter-group lending within the two banks.

Connected party loans were also made to:

- Ibrahim Mahama's related Companies amounting to ¢261.4 million and $6.4 million

- Quincy Sintim's related companies, amounting to ¢84.1 million

- Beige Group's related companies amounting to ¢10.9 million

The infographic below details how Capital Bank was licensed and how it used bailout funds the BoG gave it when it was distressed. 

Infographic Capital Bank