Mr. Adomakoh, the Managing Director of GCB Bank PLC, has declared that the bank is well-positioned to return value for investors.
The Managing Director of GCB Bank PLC noted that the bank has laid a strong foundation coupled with tightening risks, which will make it possible for investors to have returns on their investments.
Mr. Adomakoh made these assertions when speaking at an ‘investors’ call’. He disclosed further that credit underwriting standards of the bank have been tightened, saying “The Bank is well-positioned to return value for investors”.
Meanwhile, the engagement with investors was facilitated by Databank Financial Services Limited and IC Securities (Ghana) Limited. The Management of the Bank used the opportunity to explain the policy and strategic direction of the GCB and its performance.
The Managing Director disclosed that GCB Bank posted impressive financial results with profit before income tax increasing by 34 percent in the just-ended 2021 year. He added that the bank’s profit grew from GH¢ 602 million in 2020 to GH¢810 million last year. “GCB Bank also increased its total asset from GH¢15.5 billion in 2020 to GH¢18.3 billion in 2021, representing a growth of 18 percent.”
GCB Bank PLC to Be A Dominant Player In the Stock Market
Mr. Adomakoh indicated that the Management of the Bank at the end of April 2022 made an appearance at the “Facts Behind the Figures” programme organized by the Ghana Stock Exchange (GSE).
Mr. Adomakoh explained that the Bank’s strategic ambition is to be a dominant player in the stock market and “the best by every measure anchored around three strategic pillars of revenue growth and profitability, operational excellence, people and talents”.
Mr. Socrates Afram, the Deputy Managing Director of Finance at GCB Bank PLC, also asserted that an integral part of the Bank’s performance was driven by real growth in its deposit base.
Mr. Socrates Afram disclosed that GCB would embark on an aggressive deposit mobilization drive and that the requisite personnel and other resources have been engaged and procured to achieve this objective.
Mr. Afram iterated that the GCB Bank would work hard to keep the cost under control saying, “GCB remains a very solid and sound bank.”
The Deputy Managing Director noted that the Bank would keep a clean and positive balance sheet and improve customer experience.
Mr. Emmanuel Odartey Lamptey, the Deputy MD in charge of Operations, on his part, announced that the Bank is making inroads in the mobile money transfer business with the introduction of the G-Money. This, he said will make mobile business easily accessible to customers of the bank and Ghanaians.
Some notable individuals present at the programme included the Executive Director, Wholesale and Investment Banking; Mr. Samuel Kwame Aidoo, Executive Head, Retail Banking; Mr. John Adamah, Chief Digital and Marketing; Mr. Eric Coffie, the Financial Controller, Mr. Kwasi Osei Bobie, and others.
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