Tag: GCB Bank
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GCB expands international operations
GCB Bank Limited has stated that it is expanding its operations to other countries. The Deputy Managing Director of the Bank in charge of Operations, Mr Samuel Amankwah who disclosed this said: “As a forerunner, GCB is establishing and deepening correspondent banking relationship with Sierra Leone and Liberia in West Africa.” In 2017, GCB Bank…
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Over a dozen banks yet to meet GH¢400m minimum capital
At least fifteen (15) banks are yet to announce their position on meeting the new minimum capital requirement with four months to the deadline. This is because Citi Business News’ analysis has shown that six (6) banks have reached the target with seven (7) others undertaking various measures to recapitalize. The six banks include; the…
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Cedi’s free fall: GCB Bank expands FX business
GCB Bank has disclosed of a major expansion drive to increase the trading in foreign exchange to help businesses get access to major international trading currencies. GCB Bank tells Citi Business News that it is increasing the scope of FX trading to minimize the impact of the shortage of foreign currency in the system. The…
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GCB Bank falls on income surplus for minimum capital
GCB Bank is to move 400 million cedis from its income surplus to help it meet the new minimum capital requirement set by the Bank of Ghana. As a result, the bank should achieve capital of 500 million cedis. Commercial banks have till December 2018 to meet the minimum capital requirement of 400 million cedis.…
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GCB Bank’s profit drops by 29% in 2017
The profit of GCB Bank dropped by about 29 percent in 2017. The bank’s profit declined from 299 million cedis to an estimated 213 million cedis between 2016 and 2017. Meanwhile for the first three months of this year, GCB Bank’s financial report shows another drop in profits. The financial statement released by GCB Bank…
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Ex Capital bank workers lament locked up providence funds
Former workers of defunct Capital bank are livid over what they say is the calculated attempt by their fund managers not to pay their providence funds. The disclosure comes despite the approval by the receiver of the joint purchase and assumption of UT and Capital banks, PricewaterhouseCoopers (PwC), for payment of such funds to the…
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GCB Bank to publish 2017 financial results end of May
GCB Bank has announced that it will release its financial statement for 2017, by the end of May 2018. The bank says it will at the same time release the first quarter financial performance results for 2018. GCB Bank has been unable to comply with the Bank of Ghana’s directive asking all commercial banks to…
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GCB eyes leading bank with new strategy
GCB Bank is optimistic it will increase its market share in the banking industry within the short to medium term. This comes as the bank has outdoored its ‘Golden Eagle Ambassador initiative’. Under the initiative, 200 staff have been selected from all nine zones in which the bank operates to market the bank. The move…
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GCB Bank absorbs 70% of UT, Capital banks’ staff
GCB Bank has absorbed about seventy (70) percent of the permanent staff of defunct UT and Capital Banks. It follows the completion of the full integration of the systems of the two banks. A statement on the issue and copied to Citi Business News said, “As a result of the integration, staff numbers have been…
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PwC selects ‘buyers’ of UT, Capital banks’ loan portfolios
The Joint Receivers of collapsed UT and Capital Banks, PricewaterhouseCoopers (PwC) has told Citi Business News it will select the institution with the most competitive option in defraying the loan portfolios of the two banks, as it reviews the shortlisted applications. According to the receivers, this will ensure value for money and benefit affected customers…