Bank of Ghana
Report on the Inventory of Assets and Liabilities of Capital Bank Ghana Limited (In Receivership) as at 14 August 2017
Important notice to the reader
Inventory report
Important notice to any person not authorised to have access to this report
This report details the assets and liabilities of Capital Bank Limited as at 14 August 2017 when its licence was revoked by the Bank of Ghana. This report has not been prepared using procedures that constitute an audit or assurance engagement in accordance with International Standards on Auditing ("ISAs"), and accordingly no audit or assurance opinion has been expressed on the information contained in this report.
This document has been prepared for Bank of Ghana in accordance with the Joint Receivers' reporting responsibility to Bank of Ghana under Sections 130(1), 130(4) and 126(3) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), requiring the Receiver to prepare and deliver a report on the inventory of assets and liabilities of the resolved institution.
We do not accept or assume any liability or duty of care for any other purpose or to any other person to whom this document is shown or into whose hands it may come save where expressly agreed by our prior consent in writing.
This document contains information obtained or derived from a variety of sources, as indicated within the document. PricewaterhouseCoopers (Ghana) Limited ('PwC') has not sought to establish the reliability of those sources or verified the information so provided. Accordingly, no representation or warranty of any kind (whether express or implied) is given by PwC to any person (except to our client under the relevant terms of the Contract) as to the accuracy or completeness of the document.
© 2017 PricewaterhouseCoopers (Ghana) Limited. All rights reserved. "PricewaterhouseCoopers" refers to PricewaterhouseCoopers (Ghana) Limited or, as the context requires, the PricewaterhouseCoopers global network or other member firms of the network, each of which is a separate and independent legal entity.
Contents
Background | 5 |
Financial Position | 7 |
Asset | 9 |
Liabilities | 19 |
Appendices | 24 |
Inventory Report - Capital Bank Ghana Limited
PwC | 3 |
Background
BoG appointed Vish Ashiagbor and Eric Nana Nipah as Joint Receivers for the purposes of winding down the affairs of Capital Bank Ghana Limited
1 | • Pursuant to Section 123 (1) of the Banks and Specialised Deposit-Taking Institutions Act, | |||
Revocation of Licence | 2016 (Act 930) ("the Act"), Bank of Ghana ("BoG") on 14 August 2017 revoked the operating | |||
licence of Capital Bank Ghana Limited ("Capital Bank" or "the Bank") due to impairment of its | ||||
capital. | ||||
2 | • BoG in accordance with Section 123 (2) of the Act appointed Vish Ashiagbor and Eric Nana | |||
Appointment of Receiver | Nipah, both Directors of PricewaterhouseCoopers (Ghana) Limited ("PwC") as the Joint | |||
Receivers ("JRs") for the purposes of winding down the affairs of the Bank. | ||||
3 | • | BoG approved a Purchase & Assumption ("P&A") Agreement between the JRs and GCB | ||
Purchase & Assumption Agreement | Bank Limited ("GCB") under which the JRs have transferred some assets and liabilities of | |||
Capital Bank to GCB. | ||||
4
Reporting to BoG
- This report covers the inventory of assets and liabilities of Capital Bank as at 14 August 2017. The information presented in this report for BoG has largely been sourced from Capital Bank's Management Accounts and other financial records.
Inventory Report - Capital Bank Ghana Limited
PwC | 5 | |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Bank of Ghana published this content on 20 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 January 2022 14:00:03 UTC.