UT Bank collapsed because of huge loans to Ibrahim Mahama – Kofi Amoabeng

Prince Kofi Amoabeng, the Chief Executive Officer(CEO) have divulged the secrets behind the downfall of UT Bank…


In an interview, Mr Kofi Amoabeng apportioned blame on  some of his staff members whom he called thieves, accusing them of the collapse of his bank.


According to Prince Kofi Amoabeng, another factor that led to UT becoming defunct was huge loans he granted to none other than former President of the Republic’s brother Ibrahim Mahama.


Ibrahim Mahama’s Dzata Cement Company was said to have taken huge loans which it still haven’t paid back, but interestingly Kofi Amoabeng says granting the loans isn’t something he regrets doing.


When queried on former President Mahama’s promises of restoring collapsed banks to their former glory if voted in power again, Kofi Amoabeng expressed disbelief in such promise, concluding it’s just word of mouth.