GCB Bank



GCB Bank Limited formally known as Ghana Commercial Bank is the largest bank in Ghana in terms of total operating assets and share of industry deposits, with 14.2% of total industry deposits. In August 2017, the Bank of Ghana, the nation's central bank, announced that it had approved a Purchase and Assumption transaction with GCB Bank Limited for the transfer of all deposits and selected assets of UT Bank and Capital Bank (Ghana) to GCB Bank Ltd.

Overview
GCB Bank Ltd is Ghana's largest indigenous financial institution with 185 branches. , the bank's total assets were valued at about GHS9.7billions+, with shareholders' equity of approximately GHS:1.3billion+.

In a report issued by PwC Ghana, a member of PricewaterhouseCoopers International Limited indicated GCB Bank as part of the Top 7 banks in Ghana controlling 56.3% of the market share with the bank representing 8.7%.

At the 28th Annual General Meeting (AGM), GCB Bank posted a profit of GH¢831.9m before tax for the year 2021.

History
The bank was founded on May 20, 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 1957, 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 stood 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. , 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. , there are about 21 investors in the stock of the bank as depicted in the table below:

Leadership

 * Jude Arthur - Board Chairman
 * John Kofi Adomakoh - Managing Director
 * Socrates Afram - Deputy Managing Director ( Finance )
 * Emmanuel Odartey Lamptey - Deputy Managing Director ( Operations )
 * Samuel Kwame Yedu Aidoo - Executive Director ( Wholesale and Investment Banking )
 * Osmani Aludiba Ayuba - Director
 * Francis Arthur-Collins - Director
 * Queen Mother of Denkyira Nana Saraa III - Director
 * Nick Amartefio - Director
 * Lydia Gyamera Essah - Director
 * Alhaji Alhassan Yakubu- Director- https://www.gcbbank.com.gh/board-members/489-alhaji-alhassan-yakubu

Branches
GCB Bank Ltd maintains its headquarters in Accra, the capital of Ghana and the largest city in the country. The bank has over 184 branches distributed across most major urban areas of Ghana, with plans to refurbish many of them following a re-brand in 2014.

GCB Bank Expands to 214 Branches as it assumes the management of Two Banks.

Domestic Debt Exchange Programme (DDEP)
The Government of Ghana launched its Domestic Debt Exchange Programme (DDEP) on 5 December 2022 to manage public debt and prevent the further financial collapse of the Ghanaian economy through a voluntary exchange of GHS137 billion of domestic notes and bonds of the Republic. When the programme closed on Friday, 10 February 2023 about 80 per cent of bondholders voluntarily subscribed.

The bank recorded a loss of ¢743.5 million in 2022, compared to a profit before tax of ¢832.0 million in the prior year.