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    Government to securitize $3.3bn in Central Bank loans

    Ghana withdraws $672m back-tax demand from MTN Group

    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

    Deadline for debt exchange program moved to February 7 with new terms

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    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

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    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

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    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

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    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

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GCB Bank presents 2014 dividend to government

bycitibusinessnews
August 3, 2015
in Banking And Finance
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GCB Bank Limited has presented a dividend of GH¢18,114,756.16 to the government of Ghana as dividend for 2014.

This represents an astronomical increase from 2011, 2012 and 2013 when the Bank paid dividend of GH¢3.65 million, GH¢7.2 9 million and GH¢13.97 million respectively.

Mr Cassiel Ato Forson, a Deputy Minister for Finance who received the cheque from the Acting Managing Director of GCB Bank, Mr Samuel Sarpong, described the growth in GCB’ dividend payment to government as “quiet great.”

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The Deputy Minister congratulated GCB and other joint venture companies with government equity to emulate the GCB example.

He advised the Management of the Bank to consider the possibility of paying interim dividend to the state instead of the current practice of paying final dividend.

Mr. Samuel Sarpong said in addition to dividend payment GCB is a large payer of tax and in 2014 paid over GH¢112 million in taxes.

The acting Managing Director disclosed that the Bank has given out GH¢1.3 billion as loans to salaried workers and other customers in the past three years.

Present during the presentation were Mr George Fuachie, Head of Corporate Banking Department and Mr Kwasi Osei Bobie, Financial Controller of GCB.

 

Source: GCB Bank

 

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