The Bank of Ghana (BoG) has disclosed that the GCB Bank leads the rest of commercial banks in the country in providing household loans.
The central bank thus, praised the GCB Bank, describing it as a strong indigenous bank that provides invaluable financial services to the country. BoG Governor, Dr. Ernest Addison, commended GCB Bank for its significant contributions to the socio-economic development of Ghana.
The Governor of BoG made the commendation at GCB Bank’s 70th anniversary on the theme: ’70 years of providing unrivalled financial solutions towards socio-economic development of Ghana.’
“Thank you for the kind invitation to join you today at this Grand Launch of GCB Bank’s 70th Anniversary Celebrations, under the theme, ‘70 years of providing unrivalled financial solutions towards socio-economic development of Ghana’. It is indeed a joyous occasion and over the past seven decades, GCB Bank has stood out as a strong indigenous bank, rendering invaluable financial services to this country.
“Established as the Bank of the Gold Coast in 1953, GCB Bank has, over the past 70 years, expanded organically and now provides top-notch electronic banking services and products that are unique, reliable, and convenient to customers. More importantly, these value-added services have supported Ghana’s broader agenda of financial deepening and inclusion.”
Dr. Ernest Addison
Dr. Ernest Addison highlighted the bank’s active involvement in providing solutions during economic challenges that the nation has faced over the years.
Financial Sector Clean-Up Exercise
Dr. Addison emphasised that throughout its seven decades of existence, GCB Bank has remained committed to its mandate of supporting the government and indigenous private enterprises.
“Mr. Chairman, over the period of its existence, GCB Bank has surmounted significant challenges, rebranded from Ghana Commercial Bank to a new image of GCB Bank, and with resilience, maintained its position as a leader in the competitive banking environment. These positive developments have been accompanied by strong financial performance, especially in asset growth and deposit mobilisation.
“In 2017, when the financial sector clean-up exercise was underway, GCB Bank acquired selected assets and liabilities of two indigenous banks and expanded its branch network and ATMs to over 185 and 340, respectively, to continue being the most dominant player in Ghana’s banking industry.”
Dr. Ernest Addison
The BoG boss, speaking through Dr. Maxwell Opoku-Afari, the First Deputy Governor of the Central Bank, lauded GCB Bank for overcoming significant challenges and successfully rebranding from Ghana Commercial Bank to GCB Bank. He praised the bank for maintaining its leadership position in the highly competitive banking environment with resilience.
Dr. Addison also recognized GCB Bank’s strong financial performance, particularly in terms of asset growth and deposit mobilisation. He hailed the strength exhibited by the bank during the financial sector clean up exercise.
“Mr. Chairman, over the period of its existence, GCB Bank has surmounted significant challenges, rebranded from Ghana Commercial Bank to a new image of GCB Bank, and with resilience, maintained its position as a leader in the competitive banking environment.
“These positive developments have been accompanied by strong financial performance, especially in asset growth and deposit mobilisation. In 2017, when the financial sector clean-up exercise was underway, GCB Bank acquired selected assets and liabilities of two indigenous banks and expanded its branch network and ATMs to over 185 and 340, respectively, to continue being the most dominant player in Ghana’s banking industry.”
Dr. Ernest Addison
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