Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

UT Bank of Ghana Boosts Capital to $43 Million on Loans From DEG

UT Bank Ltd. of Ghana increased its capital to 84 million cedis ($43 million), exceeding the minimum capital requirement of 60 million cedis, Chairman Joseph Nsonamoah said.

A $5 million loan from Deutsche Investitions und Entwicklungsgesellschaft mbH, a Cologne-based company that funds investments, “will reinforce the capital position of UT Bank,” Nsonamoah said today in Accra, the capital. The loan will be used to meet rising demand for medium-term funding for small and mid-sized businesses, he said.

Bank of Ghana has directed lenders in West Africa’s second-biggest economy to increase their minimum capital by December 31 or have their licenses downgraded.

UT Bank had previously received $10 million in equity investment from the company also known as DEG on June 19, after shareholders approved the transaction on May 8, Pearl Esua-Mensah, deputy managing director said today. With the latest fund injection, DEG’s stake probably increased to 13 percent from 12 percent, Esua-Mensah said.

UT Bank’s shares were unchanged at the Ghana Stock Exchange at 30 pesewas as of 2:14 p.m. in Accra.

To contact reporter on this story: Moses Dzawu in Accra at +233-302-258-797 or

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.