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UT Bank

UT Bank
Type Public
Traded as GSE: UTB
Industry Financial Services
Founded 2009
Headquarters Accra, Ghana
Key people Joseph Nsonamoah
Prince Kofi Amoabeng
Products Loans, Investments Corporate Banking, International Banking, Commercial Banking
Revenue Increase Aftertax: US$6.93+ million (GHS:13.1 MILLION) (2011)
Total assets US$378.4 million (GHS:712.9 million) (2011)
Owners Ghanaian & International Investors
Website Homepage

UT Bank Ghana Limited, commonly known as UT Bank (UTB), is a commercial bank in Ghana. As of February 2011, the bank is one of the commercial banks licensed by Bank of Ghana, the national banking regulator.[1]


  • Overview 1
  • History 2
  • Affiliate companies 3
  • Ownership 4
  • Branch network 5
  • Governance 6
  • See also 7
  • External links 8
  • References 9


UTB is a medium-sized financial services provider headquartered in Ghana with subsidiaries in west Africa and Western Europe. The bank's total assets in December 2011 were valued at approximately US$378.4 million (GHS:712.9 million), with shareholders' equity of approximately US$32.5 million (GHS:61.23 million).[2]


UT Financial Services was a non-bank financial services provider (NBFI), in Ghana, which was incorporated in 1997.[3] Over time, the NBFI acquired subsidiaries and was listed on the Ghana Stock Exchange, under its holding company, UT Holdings Limited.

In 2008, UT (Unique Trust) Holdings Limited acquired majority shareholding in a Ghanaian commercial bank called BPI Bank.[4] The bank was re-branded as UT Bank Ghana Limited and opened for business in May 2009.[5][6]

In June 2010, UT Bank and UT Financial Services Merged into one new company called UT Bank Ghana Limited. Through a reverse listing on the GSE, the new bank's shares became listed and those of UT Holdings were de-listed. Its shares trade under the symbol: UTB.

Affiliate companies

The bank is a subsidiary of UT Holdings, which owns the following subsidiaries:[7]

  1. UT Logistics - Headquartered in Tema, Ghana
  2. UT Properties - Real estate development and management
  3. UT Collections - Debt Recovery
  4. UT Private Security - Armed and unarmed private security service
  5. UT Financial Services Nigeria - Loans and Lease financing solutions
  6. UT Financial Services South Africa - Headquartered in Johannesburg
  7. UT Life Insurance - Life Insurance


The shares of the bank's stock are listed on the Ghana Stock Exchange, where they trade under the symbol: UTB. The seven (7) largest shareholders in the bank are listed in the table below:[8]

UT Bank Stock Ownership
Rank Name of Owner Percentage Ownership
1 UT Holdings Limited of Ghana 40.40
2 DEG Germany 13.50
3 Africa Capitalization Fund 10.10
4 IFC 10.10
5 Investec Public Fund 4.70
6 Kura Capital 3.70
7 Duet 2.40
8 Others 14.90
Total 100.00

Branch network

As of January 2014, UT Bank maintains a network of Thirty (30) interlinked branches across all regions of Ghana.


The Chairman of the Board is Freeman Nsonamoah and the CEO is Prince Kofi Amoabeng.

See also

External links

  • Website of UT Bank
  • Website of Bank of Ghana


  1. ^ List of Licensed Commercial Banks in Ghana
  2. ^ Audited 2011 Annual Report
  3. ^ UT Financial Services Incorporated In 1997
  4. ^ UT Holdings Limited Acquired BPI Bank in 2008
  5. ^ UT Goes Into Banking
  6. ^ UT Bank Opens
  7. ^ Subsidiaries of UT Holdings
  8. ^ Shareholding in UT Bank
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