Samuel Okyere, a former employee of the defunct UT Bank has launched a book on a study of what he describes as contributing factors to the bank’s collapse and some lessons that can be drawn.

The book presents quantitative and qualitative data on the operational inefficiencies that characterised credit-granting procedures of UT Bank.

One striking observation Mr. Okyere made in his book with respect to loan is that the whole loan appraisal is based on the principle of “loan against collateral” without any recourse to financial or business analysis.

According to Mr. Okyere, 50% of UT bank’s loan decision was not more efficient than tossing a coin to make all the relevant decisions.

Loan appraisal at the UT bank was overly subjective with authority vested in one approving agent without any effective loan monitoring function, he stated in the book.

Mr. Okyere also discovered that the bank lacked authority and systems to monitor credit adequately.

Mr Samuel Okyere extolled and described Mr. Kofi Amoabeng, founder and CEO of the defunct bank as a hero.

But Mr. Prince Kofi Amoabeng has come under public scrutiny over the role he might have played in the total collapse of the bank.

Reports say Mr. Amoabeng did not disclose the receipt of some GH¢5 million paid to him by Kofi Jobs Limited believed to be one of the companies linked to Ibrahim Mahama, which happens to be a debtor of the bank.

This was after the bank authorised an advance payment guarantee from Engineers and Planners, which settled Kofi Job Ltd’s indebtedness to the bank.