Thursday, October 8, 2009

GCB opens 153rd outlets, consolidates its leadership position

Ghana Commercial Bank (GBC) has inaugurated its Nima outlet, a suburb of Accra as its 153rd branch in the country.

The branch opening was in fulfillment of the bank's retail banking transformation strategy which was also in line with its policy of bringing banking to the level of the individual.

It will also consolidate the Bank’s position as the lead and largest Bank in the country providing retail and consumer banking services for customers and non customers.

The Deputy Managing Director of GCB in charge of operations, Mr. Samuel Sarpong, who opened the branch said: “that the area is full of business activities carried on by small and medium scale enterprises, as well as, other corporate giants. For that reason, management saw it expedient to choose the location to add to the Bank's existing network in order that people could transact business in a convenient way with the bank.”

He explained that the Bank has repositioned itself to assuage the hyper-competition in the banking industry, adding that it was committed to ensuring the highest quality banking services for customers.

Mr. Sarpong observed that the competition in the banking sector requires high quality staff to enable the bank attract the needed customers.

“The bank has established a Customer Service Unit, to develop a programme for the bank’s operations to improve, especially on its service quality including standards.

We will soon be launching the GCB Customer Promise. This programme will inform customers about our service quality standards and provide opportunity for customers to provide regular feedback.”

The Nima branch, a strategic location will offer all the services including GCB Express Money Transfer, Kudi Nkosuo, Personal Loans, Staff Loans, Packages for all Small and Medium Enterprises, GCB Fast International Money Transfer, GCB MoneyGram Remittances, Link2Home for Non-Resident Ghanaians, Commernet Plus (Internet Banking), Royal Banking and Trade Services, GCB Mastercard, and ReadyCash (ATM) services.

Commercial Bank Limited, since its birth in 1953, has provided banking products and services for corporate, small and medium scale enterprises and retail customers in the country.

Its latest financial reports showed a net profit of GHC 37.59 million for 2008, as against 2007 figure of GHC 32.87 million. Profit after tax for 2008 stood at GHC 47.71 million. Pre-tax profits was at GHC 49.7 million as against the 2007 figure of GHC 46.96 million.

The Bank achieved an appreciable growth in shareholder equity. Earnings per share for 2008 was GHC 0.142 compared to GHC 0.124 in the previous year with a recommended a dividend of GHC 0.06 per share representing a pay-out ratio of 42% to shareholders.

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