The Bank of Ghana, in August 2017, revoked the license of two commercial banks - UT Bank and Capital Bank.
The action was triggered by the inability of the two banks to turn around their negative capital adequacy positions, which lingered on for some time.
According to the Central Bank, UT Bank and Capital Bank were deeply insolvent, meaning that their liabilities exceeded their assets.
This put them in a position not to be able to meet their obligations as and when they fell due.
