Tag: GCB Bank
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Average mortgage interest increases to 33.8% in March
The average interest rate for mortgage loans among commercial banks reached 33.8 percent in March 2017. The figure recorded a 2 percent increase as compared to the 33.6 percent recorded at the end of February 2017. According to the Bank of Ghana’s Annual Percentage and Average Interest report, GCB Bank still offers the highest interest…
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Average interest on car loans drops to 34.2% in March 2017
The industry average for vehicle loans has however dropped from 35 percent in February to 34.2 percent in March 2017, the latest Annual Percentage Rates and Average Interest report by the Bank of Ghana has shown. The report however shows that GCB Bank offers the highest rate on vehicle loans at 40.3%. Bank of Baroda…
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Analysts predict buoyant performance on Ghana Stock Exchange
Stock market analysts are confident trading activities will bounce back in the second quarter following a pickup in trading activities on the local bourse. The 2017 first quarter performance indicate that the stock market gained about 10 percent growth compared to the negative 4.26 percent recorded in the same period last year. While investors of…
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Banks with top three highest mortgage loans [Infographic]
The latest Annual Percentage Rate (APR) and Average Interest (AI) report by the Bank of Ghana has shown that GCB Bank offers the highest interest on mortgages as at the end of February. Potential home buyers would be charged as much as 40.3 percent on loans they contract from the bank. Meanwhile Bank of Baroda…
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Investigations into DKM bribery allegations to end next week
Investigations into alleged reports of bribery against workers and security personnel of GCB bank by DKM customers are expected to be completed on Friday 27th January, 2017. The police, upon request from the Registrar General’s Department, who are official liquidators of DKM micro finance company, early this month begun investigations into the matter. “Some of…
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Official Liquidator for DKM begins ‘extra’ payments today
Creditors of DKM Microfinance Limited who were not paid in the first week of payments, are expected to receive their investments from today. This is according to the Principal Company Inspector for the official liquidator, Jones Nathaniel Ansah According to him “some of those who have so far not received any payment are getting their…
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Customers threaten to disrupt DKM payments in Bolgatanga
Over 300 validated creditors of DKM Diamond Microfinance in the Upper East Region, have threatened to disrupt the payment process at the Bolgatanga branch of the GCB Bank on Tuesday, if they are not paid their investments today. The agitations follow the inability of the representative of the Official Liquidator at the bank, to complete…
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DKM customers pleased with amounts received from Official Liquidator
Customers of DKM Microfinance have expressed mixed reactions over the payments of their locked up cash by the Official Liquidator. Payments for the first batch of validated creditors commenced this morning at the eight selected branches of GCB Bank. Citi Business News understands that at least 4000 customers will be paid each day starting from…
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DKM creditors receive locked up cash from today
At least 4000 creditors of DKM Microfinance are expected to be paid their locked up deposits today, as the Official Liquidator commences payments. According to the Official Liquidator, each of the eight designated branches of GCB Bank is expected to attend up to 500 customers every day till all the payments are concluded. “The eight…
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Solve ‘non-collateral loans’ allegations internally – Nana Otuo to GCB Bank
Banking consultant, Nana Otuo Acheampong has called on the management of GCB Bank to take steps to address allegations that the bank’s board has been approving several huge loans without the requisite collateral needed. According to him, the act is likely to impact on the share price of the bank on the Ghana Stock Exchange…