General News Wed, 16 Aug 2017
The staff of the erstwhile UT and Capital Banks will undergo skills assessment requirements in order to be employed at GCB bank.At a press conference on Tuesday (August 15, 2017) the Chief Executive Officer (CEO) of GCB, Raymond Sowah said they will retain some staff based on the job skills the employees have.
“We shall conduct a skills assessment as part of integration process we need to know that we can bring everyone onboard or not. This is an expanded institution and as we go through the integration we should know what jobs to close down and what jobs to retain,” he added.
Employees of UT and Capital banks have been worried about the security of their jobs after GCB bank took over the two banks on Monday.
The employees are a little over one thousand.
GCB bank was given the opportunity to assume ownership of the two banks because according to the Bank of Ghana (BoG) they have “severe impairment of their capital.”
BoG also revoked the licenses of the two banks while the Ghana Stock Exchange (GSE) also suspended the listing status of UT Bank.
BoG said no staff will be fired yet but reports suggest that the staff of the two banks will be under probation for about six months under GCB before termination of their contracts.
At least a quarter of the workers of both banks will be absorbed while the remaining are likely to lose their jobs.
At the press conference, Sowah said they will not take the integration lightly.
“GCB was the most profitable bank last year. We must be doing something right to have gotten ourselves to that position. Banks go through some cycles, some good some bad. We are aware of the needs of the customer base that we have and I also want to assure you that we did not take the decision to assume the management of these two banks lightly. We recognize that there are certain things that we can learn from them and as well as certain things that they can learn from us. And that is why we will ensure that we integrate with these institutions seamlessly so that they can bring whatever good they have to deal with their customers.”
He, however, assured the customers of both banks of quality service and a safety of the savings and investments.
“We will take this opportunity to assure all depositors of the two erstwhile banks that their deposits are protected. You can go to the branches that you have used from time immemorial and you will be served.”