A wonderful story by the
Financial Times (*). "The bank keeps a permanent office open at both the land and vehicles registry. Cars are a favourite. 'Ghanians don't want to lose them', she says. When financing trade, or clearing goods for clients through customs, the bank holds a portion of the imports until the loan is paid off. Financial analysts familiar with UT, say the bank has also built its reputation on the s
trict military discipline with which its affaires are run and its ability to recover as well as collateralise loans.
It does not go to the police and the courts ...
The interest rates UT charges are not exactly a gift, sometimes 3 to 5 per cent a month for indigenous traders".
(*) William Wallis: "UT Bank: Reaching parts of the market others shun", Financial Times, December 15, 2011.
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