GCB Bank

GCB Bank Ltd is Ghana's largest indigenous financial institution with 185 branches.{{Cite web |title=GCB Bank 2018 Annual Report |url=https://www.gcbbank.com.gh/index.php/downloadables/55-gcb-annual-report-2018 |access-date=2019-10-07 |website=Gcb bank.}} {{as of|December 2018||df=}}, the bank's total assets were valued at about GHS9.7billions+, with shareholders' equity of approximately GHS:1.3billion+.{{Cite web|url=https://www.gcbbank.com.gh/index.php/downloadables/55-gcb-annual-report-2018|title=GCB Bank 2018 Annual Report}}{{Cite web |date=2021-07-14 |title=GCB Bank and Ecobank Ghana control 23.9% of banking industry deposits - Report |url=https://www.pulse.com.gh/business/gcb-bank-and-ecobank-ghana-control-239-of-banking-industry-deposits-report/h40s4mr |access-date=2023-08-09 |website=Pulse Ghana |language=en}}

In a report issued by PwC Ghana, a member of PricewaterhouseCoopers International Limited indicated GCB Bank as part of the Top 7 banks in Ghana controlling 56.3% of the market share with the bank representing 8.7%.{{Cite web |date=2017-08-24 |title=Seven banks control 56.3% of market share - Research |url=https://www.ghanaweb.com/GhanaHomePage/business/Seven-banks-control-56-3-of-market-share-Research-573077 |access-date=2023-08-09 |website=GhanaWeb |language=en}}

At the 28th Annual General Meeting (AGM), GCB Bank posted a profit of GH¢831.9m before tax for the year 2021.{{Cite web |last=emmakd |date=2022-06-05 |title=GCB Bank posts profit before tax of GH¢831.9m |url=https://www.ghanabusinessnews.com/2022/06/05/gcb-bank-posts-profit-before-tax-of-gh¢831-9m/ |access-date=2023-08-09 |website=Ghana Business News |language=en-US}}

The bank was founded on May 20, 1953,{{Cite web |title=Gcb bank |url=https://www.gcbbank.com.gh/news-from-gcb/630-gcb-bank-marks-67-years |access-date=2023-08-16 |website=Gcb bank}} with 27 employees, as the Bank of the Gold Coast.{{Cite web |title=Gcb bank |url=https://www.gcbbank.com.gh/index.php?option=com_content&view=article&id=72&Itemid=177 |access-date=2023-08-16 |website=Gcb bank}} Initially, it focused on serving Ghanaian traders, farmers, and business people, who could not obtain financing from the expatriate banks. In 1957, when Ghana attained Independence, the bank re-branded to Ghana Commercial Bank,{{Cite web |title=Gcb bank |url=https://www.gcbbank.com.gh/index.php?option=com_content&view=article&id=72&Itemid=177 |access-date=2023-08-16 |website=Gcb bank}} to concentrate on commercial banking, since Bank of Ghana had been created to function as the central bank and banking regulator.{{Cite web |date=2023-08-05 |title=The story behind the formation of the first Ghanaian owned bank |url=https://www.ghanaweb.com/GhanaHomePage/business/The-story-behind-the-formation-of-the-first-Ghanaian-owned-bank-1818824 |access-date=2023-08-09 |website=GhanaWeb |language=en}}

In the beginning, the bank was wholly owned by the Government of Ghana. However, in 1996, when government shareholding stood at 51.17%, the stock of the bank was listed on the Ghana Stock Exchange. In 2013, the bank renamed itself GCB Bank Ltd,{{Cite web |date=2022-01-07 |title=GCB Bank rebrands as GCB Bank PLC |url=https://www.ghanaweb.com/GhanaHomePage/business/GCB-Bank-rebrands-as-GCB-Bank-PLC-1439224 |access-date=2023-08-16 |website=GhanaWeb |language=en}} with a new brand identity which was launched at the end of 2014. Today, GCB Bank Ltd serves the banking needs of large corporations, parastatal companies, small and medium enterprises as well as individuals. {{as of|December 2016}}, the bank employs 1,532 staff,{{Cite web |title=Gbc bank |url=https://www.gcbbank.com.gh/downloads/informational/344-gcb-bank-at-70-daily-graphic-special/file |access-date=2023-08-16 |website=Gcb Bank.}} in branches distributed in all 10 regions of the Republic of Ghana.[http://www.gcb.com.gh/page.php?pid=1 History of Ghana Commercial Bank]

GCB Capital Limited has launched the Golden Eagle Unit Trust, a collective investment scheme designed to provide accessible investment opportunities to both individual and institutional investors in Ghana. With a minimum investment of GHS 100, the trust offers a diversified portfolio of local and international assets, including government securities, corporate bonds, equities, and real estate investment trusts (REITs). The fund will be valued daily, ensuring regular performance updates and easy entry or exit for investors. The launch aims to expand investment access and transparency for a broader range of investors.{{Cite web |date=2024-12-15 |title=GCB Capital introduces Golden Eagle Unit trust to broaden investment Opportunities - MyJoyOnline |url=https://www.myjoyonline.com/gcb-capital-introduces-golden-eagle-unit-trust-to-broaden-investment-opportunities/ |access-date=2025-01-19 |website=www.myjoyonline.com |language=en-US}}

The shares of stock of GCB Bank Ltd are listed on the Ghana Stock Exchange and are part of the exchange's GSE All-Share Index. The government of Ghana maintains 21.4% shareholding in the bank,{{Cite web |last=Apinga |first=David |date=2021-03-26 |title=GCB records marginal increase as profits hit GHC 445.4m |url=https://www.theghanareport.com/gcb-records-marginal-increase-as-profits-hit-ghc-445-4m/ |access-date=2023-08-16 |website=The Ghana Report |language=en}} while the remaining 78.6% is owned by institutional and private investors. {{as of|December 2016}}, there are about 21 investors in the stock of the bank as depicted in the table below:[http://www.gcb.com.gh/downloads/GCB_Annual_Report_2016.pdf Detailed Shareholding In GCB Stock]

• Jude Arthur - Board Chairman{{Cite web |title=Jude Kofi Arthur - Biography |url=https://www.marketscreener.com/business-leaders/Jude-Kofi-Arthur-07C6TX-E/biography/ |access-date=2023-08-16 |website=MarketScreener. |language=en}}
• John Kofi Adomakoh - Managing Director{{Cite web |title=Kofi Adomakoh Leads GCB Bank – GCB Capital |url=https://www.gcbcapital.com.gh/kofi-adomakoh-leads-gcb-bank/ |access-date=2024-07-26 |language=en-US}}
• Socrates Afram - Deputy Managing Director{{Cite web |title=Socrates Afram - Biography |url=https://www.marketscreener.com/business-leaders/Socrates-Afram-0GLK8R-E/biography/ |access-date=2023-08-16 |website=Marketscreener. |language=en}} ( Finance )
• Emmanuel Odartey Lamptey - Deputy Managing Director{{Cite web |last= |first= |title=[Ghana] Emmanuel Odartey appointed new Deputy Managing Director for GCB Bank |url=https://africabusinesscommunities.com/banking-and-finance/news/ghana-emmanuel-odartey-appointed-new-deputy-managing-director-for-gcb-bank/#:~:text=The%20Board%20of%20GCB%20Bank,Management%20and%20Senior%20Management%20positions. |access-date=2023-08-16 |website=Africa Business Communities |language=en}} ( Operations )
• Samuel Kwame Yedu Aidoo - Executive Director{{Cite web |date=2022-03-08 |title=PR. 062/2022 GCB APPOINTMENT OF EXECUTIVE DIRECTOR, WHOLESALE AND INVESTMENT BANKING - Ghana Stock Exchange |url=https://gse.com.gh/pressrelease/pr-062-2022-gcb-appointment-of-executive-director-wholesale-and-investment-banking/ |access-date=2023-08-16 |language=en-US}} ( Wholesale and Investment Banking )
• Osmani Aludiba Ayuba - Director{{Cite web |title=Osmani Aludiba Ayuba - Biography |url=https://www.marketscreener.com/business-leaders/osmani-aludiba-ayuba-0JMVGG-E/biography/#:~:text=Osmani%20Aludiba%20Ayuba%20is%20Managing,Chartered%20Institute%20of%20Bankers%20Ghana. |access-date=2023-08-16 |website=MarketScreener. |language=en}}
• Francis Arthur-Collins - Director{{Cite web |title=Francis Arthur-Collins - Biography |url=https://www.marketscreener.com/business-leaders/Francis-Arthur-Collins-0JMVGF-E/biography/ |access-date=2023-08-16 |website=MarketScreener. |language=en}}
• Queen Mother of Denkyira Nana Saraa III - Director{{Cite web |date=2018-11-07 |title=Ghana Commercial Bank Limited - Ghana Stock Exchange |url=https://gse.com.gh/listed-company/gcb/ |access-date=2023-08-16 |language=en-US}}
• Nick Amartefio - Director{{Cite web |last=MarketScreener |date=2021-10-01 |title=GCB Bank Limited Announces Resignation of Nik Amarteifio and Edward Prince Amoatia Younge from the Board |url=https://www.marketscreener.com/quote/stock/GCB-BANK-PLC-6743302/news/GCB-Bank-Limited-Announces-Resignation-of-Nik-Amarteifio-and-Edward-Prince-Amoatia-Younge-from-the-B-36615746/ |access-date=2023-08-16 |website=MarketScreener. |language=en}}
• Lydia Gyamera Essah - Director [https://afx.kwayisi.org/gsegh/gcb.html GCB Bank Limited (GCB) Stock Quote]
• Alhaji Alhassan Yakubu- Director- https://www.gcbbank.com.gh/board-members/489-alhaji-alhassan-yakubu

GCB Bank Ltd maintains its headquarters in Accra, the capital of Ghana and the largest city in the country. The bank has over 184 branches distributed across most major urban areas of Ghana, with plans to refurbish many of them following a re-brand in 2014.

GCB Bank Expands to 214 Branches as it assumes the management of Two Banks.{{Cite web |last=Allotey |first=Godwin Akweiteh |date=2016-12-15 |title=GCB bank limited opens Saboba branch |url=https://citifmonline.com/2016/12/gcb-bank-limited-opens-saboba-branch/ |access-date=2023-08-09 |website=Citi 97.3 FM - Relevant Radio. Always |language=en-US}}{{Cite web |title=GCB Bank launches 185th branch in Nalerigu |url=https://www.myjoyonline.com/gcb-bank-launches-185th-branch-in-nalerigu |access-date=2023-08-09 |website=Myjoyonline. |date=17 June 2022 |language=en}}

The Government of Ghana launched its Domestic Debt Exchange Programme (DDEP) on 5 December 2022 to manage public debt and prevent the further financial collapse of the Ghanaian economy through a voluntary exchange of GHS137 billion of domestic notes and bonds of the Republic.{{Cite web |title=Government of Ghana Domestic Debt Exchange: Potential Financial Sector Impacts and Mitigating Safeguards {{!}} Ministry of Finance {{!}} Ghana |url=https://mofep.gov.gh/press-release/2022-12-29/government-of-ghana-domestic-debt-exchange-potential-financial-sector-impacts-and-mitigating-safeguards |access-date=2023-08-09 |website=Ministry Of Finance Ghana}} When the programme closed on Friday, 10 February 2023 about 80 per cent of bondholders voluntarily subscribed.{{Cite web |title=Participation in the Domestic Debt Exchange Programme {{!}} Ministry of Finance {{!}} Ghana |url=https://mofep.gov.gh/press-release/2023-02-14/participation-in-the-domestic-debt-exchange-programme#:~:text=The%20DDEP%20is%20being%20done,exacerbated%20the%20current%20economic%20crisis. |access-date=2023-08-09 |website=Ministry Of Finance Ghana}}

The bank recorded a loss of ¢743.5 million in 2022, compared to a profit before tax of ¢832.0 million in the prior year.{{Cite web |title=GCB Bank posts strong performance in 2022 despite DDEP, poised for growth in 2023 |url=https://www.myjoyonline.com/gcb-bank-posts-strong-performance-in-2022-despite-ddep-poised-for-growth-in-2023 |access-date=2023-08-09 |website=Myjoyonline. |date=30 June 2023 |language=en}}{{Cite web |title=We are prepared for a 2nd round DDEP – GCB Bank |url=https://www.myjoyonline.com/we-are-prepared-for-a-2nd-round-ddep-gcb-bank |access-date=2023-08-09 |website=Myjoyonline. |date=3 July 2023 |language=en}}

{{Portal|Banks}}

• List of banks in Ghana
• Ghana Stock Exchange
• Economy of Ghana

{{Reflist|30em}}

• [http://www.gcb.com.gh Website of GCB Bank]
• [http://www.gcb.com.gh/downloads/GCB_Annual_Report_2016.pdf GCB Bank 2016 Annual Financial Report]
• [http://www.ghanastocks.net/quote/GCB-Bank-Ltd GCB Bank Stock Quote At Ghanastocks.net]

{{Economy of Ghana}}

{{Authority control}}

Category:Banks of Ghana

Category:Companies based in Accra

Category:Banks established in 1953

Category:1953 establishments in Gold Coast (British colony)

Category:Companies listed on the Ghana Stock Exchange