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Capt. Prince Kofi Amoabeng (Rtd), a Ghanaian businessman and former owner of the collapsed UT Bank, has revealed how he aggressively dealt with loan defaulters of his defunct bank when it was in operation.
According to him in an on-air radio interview with Kwame Sefa Kayi on Peace FM’s flagship show ‘Kokrokoo, he used to seize the cars of many of UT Bank’s loan defaulters.
Recounting on his tough days and the immediate period before his bank collapsed, Kofi Amoabeng narrated how he drank some bottles of alcoholic drinks before facing some stubborn clients who have refused to pay back their loans.
“One thing I used to do is that if you don’t come to redeem yourself and I come to your house to meet your absence, I will search for where they sell Guinness and strategically sit there watching your gate. If you’re lucky and I drink one or two, then it means I am not drank yet, but if you keep long and I gulp about four or five bottles, then you are in trouble when I find you”
On 14th August 2017, the Bank of Ghana revoked the license of both UT Bank.
UT Bank together with other banking institutions were all declared insolvent by the Bank of Ghana (BOG) with the claim that their liabilities exceeded their assets.