NPP collapsed my UT Bank – Kofi Amoabeng insists

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Prince Kofi Amoabeng, the Chief Executive Officer of defunct UT Bank, is blaming the New Patriotic Party (NPP) government led by President Nana Akufo-Addo of collapsing his bank.

In an interview on Citi TV, Amoabeng said “I don’t belong to any party… The interesting thing is that depending on who is speaking, they push you to the other side. Throughout the whole UT thing depending on who is in power, I am [considered as being] on the other side.”

He said the bank “wasn’t doing that well” at the time the Bank of Ghana collapsed it adding that “the way the government acted, some banks were helped, some banks were closed; that is what irritates me.

“At UT, we created a Ghanaian brand which was respected internationally, so, to come to power to kill a local brand which is admired and used internationally.”

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He stated that the government could have bailed the bank instead of revoking its license and ordering the GCB Bank to take over operation because it had severe capital impairment.

“You can bail it out and that is common…Initially, that was what was happening but that was the NDC time,” he said.

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