GCB Bank Limited has denied allegations, that it has done unauthorized transfers of GH¢ 52.5 billion to unknown sources, describing the allegations as “false and mischievously designed to discredit the bank”.

A statement from GCB Bank’s Corporate Affairs Department, said the bank has “noted with grave concern the publication of a doctored letter dated 5th October, 2020, purportedly emanating from the Ghana Audit Service in respect of funds transferred.

“The said letter, currently circulating mostly on social media with the caption, ‘Audit Service Reports of GH¢52.5 Billion Transferred from GCB Bank to Unknown Sources,’ alleges that a total amount of GH¢52.5 billion was transferred from GCB’s accounts to unidentified sources. This is false and mischievously designed to discredit the Bank,” the statement said.

The bank further stressed that it will not engage in any such activity that will erode the trust the public has reposed in it over the years.

“We hereby deny the allegation that GCB has effected unauthorized transfers. We further assure all our stakeholders that GCB, as a Bank of international repute, conducts its activities in line with sound banking principles. The Bank will not engage in any activity that will erode the trust and confidence the public has reposed in us over the years,” the statement said.