A statement released by the GSE Monday said UT Bank breached the GSE’s Listing Rules by failing to publish its financial results since the end of its financial year December 31, 2015.

“The non-publication is in breach of the continuing listing obligations under the GSE Listing Rules. The GSE has collaborated closely with Bank of Ghana (BoG), the regulator for banks on this matter,” the statement said.

It added that the suspension was also necessary following the revocation of the licence of UT Bank by the Bank of Ghana (BoG) on Monday, August 14, 2017.

The GSE noted however that it would continue to collaborate closely with BoG and the Securities and Exchange Commission to ensure that the interest of shareholders of UT Bank are protected in accordance with the GSE Rules and any guidelines or notices that may be issued by BoG.