{"id":415715,"date":"2017-09-07T11:18:49","date_gmt":"2017-09-07T11:18:49","guid":{"rendered":"https:\/\/ghana-mma.com\/2017\/09\/07\/sanctioning-capitalut-banks-takeover-my-biggest-challenge-ofori-atta\/"},"modified":"2017-09-07T11:18:49","modified_gmt":"2017-09-07T11:18:49","slug":"sanctioning-capitalut-banks-takeover-my-biggest-challenge-ofori-atta","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2017\/09\/07\/sanctioning-capitalut-banks-takeover-my-biggest-challenge-ofori-atta\/","title":{"rendered":"Sanctioning Capital\/UT Banks takeover my biggest challenge \u2013 Ofori-Atta"},"content":{"rendered":"

<\/p>\n

\n

Finance Minister, Ken Ofori-Atta has said the toughest decision he has had to take since becoming a public officer, was authorising the takeover of Capital Bank and UT Bank.<\/p>\n

\u201cIt was difficult [for me] because these are also indigenous firms with entrepreneurs who take risks,\u201d Mr. Ofori Atta told Joy Business.<\/p>\n

The Bank of Ghana in August, selected GCB Bank to take over operations of the two distressed financial institutions, as a result of non-performing loans given out to customers.<\/p>\n

<\/p>\n

\"\"<\/p>\n

Mr. Ofori Atta said despite the challenge he faced giving the approval, he had to act in the interest of the state and save the investments of \u201cabout some 300,000 or so depositors\u201d.<\/p>\n

\u201cThat really for me is what the Ministry should exemplify. Looking at the big issues; what is good for Ghana and then we\u2019ll solve the little personal things that may come up,\u201d he said.<\/p>\n

He assured of the government’s commitment to improving the environment so that managers of financial institutions will be provided with the needed capacity to avoid things \u201clike the DKMs to rear their head again\u201d.<\/p>\n

\u201cThat truly, if there had been a little bit of \u2018laissez faire\u2019 attitude in the banking sector let\u2019s come back together and make it stronger,\u201d the Finance Minister advised.<\/p>\n