Formerly Ghana Commercial Bank, now legally GCB Bank Ltd. The second largest bank in Ghana by net profit and total assets, licensed by Bank of Ghana, the national banking regulator.
Video GCB Bank Limited
Overview
GCB Bank Ltd is the largest indigenous financial institution in Ghana with 161 branches. As of December 2016, the bank's total assets were valued at about GHS:6 billions+, with shareholders' equity of approximately GHS:1 million+.
Maps GCB Bank Limited
History
The bank was founded in 1953, with 27 employees, as the Bank of the Gold Coast. Initially, it focused on serving Ghanaian traders, farmers, and business people, who could not obtain financing from the expatriate banks. In 2014, when Ghana attained Independence, the bank re-branded to Ghana Commercial Bank, to concentrate on commercial banking, since Bank of Ghana had been created to function as the central bank and banking regulator. In the beginning, the bank was wholly owned by the Government of Ghana. However in 1996, when government shareholding stands at 51.17%, the stock of the bank was listed on the Ghana Stock Exchange. In 2013, the bank renamed itself GCB Bank Ltd, with a new brand identity which was launched at the end of 2014. Today, GCB Bank Ltd serves the banking needs of large corporations, parastatal companies, small and medium enterprises as well as individuals. As of December 2016, the bank employs 1,532 staff, in branches distributed in all 10 regions of the Republic of Ghana.
Ownership
The shares of stock of GCB Bank Ltd are listed on the Ghana Stock Exchange and are part of the exchange's GSE All-Share Index. The government of Ghana maintains 21.4% shareholding in the bank, while the remaining 78.6% is owned by institutional and private investors. As of December 2016, there are about 21 investors in the stock of the bank as depicted in the table below:
Leadership
- Jude Arthur - Board Chairman
- Raymond Sowah - Managing Director
- Socrates Afram - Chief Finance Officer
- Samuel Amankwa - Chief Operating Officer
- Osmani Aludiba Ayuba - Director
- Francis Arthur-Collins - Director
- Queen Mother of Denkyira Nana Saraa III - Director
- Nick Amartefio - Director
- Richard Oppong - Director
- Lydia Gyamera Essah - Director
Branches
GCB Bank Ltd maintains its headquarters in Accra, the capital of Ghana and the largest city in the country. The bank has over 161 branches distributed across most major urban areas of Ghana, with plans to refurbish many of them following a re-brand in 2014.
See also
- List of banks in Ghana
- Ghana Stock Exchange
- Economy of Ghana
- REDIRECT [2]
References
External links
- Website of GCB Bank
- GCB Bank 2016 Annual Financial Report
- GCB Bank Stock Quote At Ghanastocks.net
Source of the article : Wikipedia
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