CDH Saving and Loans has categorically denied owing Capital Bank a pesewa following a lawsuit the latter filed claiming the former and its mother company, CDH Financial Holding owes them some GHC109 million plus.
Managing Director of CDH Savings and Loans, Martin Asamoah told Adom News, Capital Bank rather owes CDH Savings and Loans GHC26 million plus, and he is aware as of February, CDH Financial Holdings also owed Capital Bank over GHC69 million and another US$1 million plus.
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He said Capital Bank also owed CDH Holdings GHC5 million plus, and another US$3 million plus, so after striking the balance, what CDH now owes Capital Bank as of February 2018 was GHC55,144,761 and US$1 million plus, not GHC109 million plus.
Indeed, a letter the lawyer of Capital Bank, Joe Aboagye Debrah wrote to CDH, dated February 13, 2018, a copy of which is available to Adom News, confirms that Capital Bank categorically stated that the money left for CDH to pay to Capital Bank was the said GHC55,1444,761 and US$1 million.
Martin Asamoah said they are really surprised as to how the receivers of the defunct Capital Bank arrived at their GHC109 million plus.
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“Even if they added interest to the amount, in less than one year, the interest cannot raise the amount owed to GHC109 million.
He said CDH Savings and Loans, in particular, sees the court action as a defamation of their reputation and they will sue the receivers of Capital Bank for damages.
Meanwhile, he said the CDH Group had invested the said amount into Premium Bank and have had several meetings and correspondence with the receivers of Capital Bank about it, with notification to the Bank of Ghana so they view the lawsuit as a move in bad faith.
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“We are however waiting to see how they arrived at their GHC109 million because we also work in the money market but this beats our imagination,” he said.
Meanwhile, some directors, board members and shareholders of the defunct Capital Bank have been sued by two citizens of the country for breach of banking regulations and bad governance that led to the collapse of the bank.