Sunday, May 27, 2012

UT Bank is the 2nd to win the Bank of the Year award on the Ghana Stock Exchange

After a short time of operating as a commercial bank in Ghana, UT Bank breaks Ecobank Ghana’s monopoly and becomes the second bank listed on the Ghana Stock Exchange (GSE) to win the Bank of the Year category at the Ghana Banking Awards since 2001.
The Bank of the Year is an award
category that goes to the bank with the highest weighted scores for the customer survey, corporate social responsibility and financial performance. The race to the top in the
Banking industry has
been tough now that there are a lot of Banks in the system most of which are foreign banks with huge capitals. Since 2001, no bank listed on the Ghana Stock Exchange apart from Ecobank Ghana (EBG) and the most recent winner, UT Bank, has ever won this prestigious category.
CaptPrince Kofi
There are six banks on the Ghana Stock Exchange operating in the country and they are CAL bank, Standard Chartered Bank (SCB), Ecobank Ghana, UT Bank (UTB) (2011 winner), HFC Bank and Ghana Commercial Bank (GCB). 
Ecobank Ghana has won this category more than any other bank and until recently was monopolizing this on the Ghana Stock Exchange. They still dominate since they won it in 2001, 2002, 2004, 2005 and 2006. The Trust Bank Ghana (TTB) won this category in 2007 and is now part of the Ecobank Group after the merger / acquisition by Ecobank Transnational Inc. (ETI) (the parent company of EBG).
The future really looks bright and going to be very competitive since EBG is expanding, GT bank (winner in 2009 and 2010) is getting innovative and UT Bank (winner 2011) has already met the minimum capital requirement by the Bank of Ghana through the huge capital injection by International Financial Corporation (a member of the World Bank group).
Long Live the Ghana Banking Awards.
Long Live the Banking Industry.


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