Ghana Commercial Bank (GCB) Limited says it is ready to partner with any of the 26 local banks to raise syndicated financing for oil exploration and other related businesses.
Such joint venture will help reduce transactional risk, create employment and retain revenue for the country’s developmental project.
Mr. Francis Chilly Agbeibor, General Manager, Planning and Research Division of the bank who disclosed this to B&FT said: “GCB’s leadership in loan syndications stems from ability to forge strong relationships not only with borrowers but also with bank investors.
Our syndication capabilities are complemented by our own capital strength and by industry teams who bring specialized knowledge to the structure of a transaction.”
Mr. Agbeibor said the bank’s long term international pedigree positions it to understand its syndicate partners’ asset criteria, and help meet substantial financing needs by enabling them to reach the banks most interested in lending to their particular industry.
Mr. Cedric McAddy, Marketing Director of GCB, making a presentation at the Ghana National Chamber of Commerce (GNCCI) monthly meeting in Accra said, the bank has being supporting the operations of Small and Medium Enterprises sector in the country with loans, financial and business advisory service for business growth.
He explained that it 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 in the SME sector which constitute over 70 percent of the country’s businesses.
“The bank has established a SME Service Centre, to enable the bank develop a tailored made products for its operations to improve, especially on the SME service.
Ghana 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.
Ghana Commercial Bank (GBC) has inaugurated its Nima outlet, a suburb of Accra as its 153rd branch in the country.
Nana Appiagyei Dankawoso, Greater Accra Regional Chairman of the GNCCI urged the members to take advantage of the GCB’s rich banking experience and transact business with them to grow their businesses.
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