The Ghana Stock Exchange halted the trading in the shares of UT Bank Limited on January 3, 2017 due to the company not submitting its financial results to the market.
According to the rules of the Ghana stock exchange, sectors VI and VII stipulates the continuing listing obligations and disclosure policy of material information for listed companies, including financial results. The halt is bound to remain till the company gives a press release for its actions.
UT Bank is a medium-sized financial services provider in Ghana with subsidiaries in West Africa and Western Europe. It commenced business as a non-bank financial services provider in 1997. Over time the company acquired subsidiaries and was listed on the Ghana Stock Exchange under its holding company UT Holdings Limited. In 2008, UT Holdings acquired majority shareholding in BPI Bank and was rebranded. In June 2010, UT Bank and UT Financial Services merged into a new company, namely, UT Bank Ghana Limited. As one of the fastest growing banks in Ghana, UT Bank focuses primarily on the financial needs of small and medium sized enterprises.
UT Bank Limited provides a range of value-added products. The Bank’s products include Personal Banking, Electronic Banking, Business Banking and Treasury Services. Its accounts under personal banking include current account, unique account and foreign currency account.
Its Electronic Banking products include fonBank, iBank, Tranz-alert and Visa Card. Its Business Banking caters for the needs of small and medium-sized enterprises (SME) market with various financial solutions. The Bank helps its clients trade across borders, and ensures delivery and collection of payments. Its Treasury Services is designed to help its clients with products and solutions for receiving/collecting money for business service.