UT Bank Ghana is one of the fastest growing financial institutions in Ghana. Incorporated since 1997 as a Finance house under the name of UT Financial Services Limited (UTFSL), UT Bank has evolved into a fully-fledge universal bank in June 2010 after the acquisition of BPI Bank. UT Bank, a company listed on the Ghana Stock Exchange, is owned by local institutions as well as by major leading Development Institutions (IFC and DEG).
The bank has been a pioneer in SMEs’ financing on the Ghanaian private sector by focusing on this segment since its inception. UT Bank is today the leading financial institution in SMEs financing. UT Bank has posted sound performances having doubled its asset base since 2010 and expanded its Ghanaian territory coverage with 26 branches.
UT Bank received numerous awards for being the Most Respected Ghanaian Company in 2009, the best Bank in short-term loan financing in 2010 and the Bank of the year in 2011. It also received recognition as the best bank in electronic banking in 2011. UT Bank’s CEO has also been recognized as the Most Respected CEO in 2009 and 2011.
Amethis Role and Value
Amethis investment will support UT Bank’s development and growth in SME lending. It will enable the Bank to strengthen its positioning in the SME segment in Ghana and develop its retail footprint with branch expansion. The subordinated loan granted by Amethis to UTB will foster sustainable job creation and support the Ghanaian economy thanks to the direct investments it will generate on the Ghanaian SMEs tissue.