Ghana Commercial Bank (GCB) Limited, has recorded a substantial increase in total income of GH¢ 418 million in 2012, making it the best performing bank in Ghana.
The income represented a more than 44 per cent jump over the GH¢ 288 million recorded in 2011.
Board Chairman of GCB, Dr Fritz A. Gockel, made this known to shareholders at the Bank's 19th Annual General Meeting in Accra on Friday (May 31, 2013).
By the phenomenal rise in income GCB emerged the most profitable bank in 2012 and is resolved to consolidate the position with the introduction of innovative strategies.
Dr Gockel attributed the Bank's performance to prudent measures instituted by the Board, management and staff in ensuring strong growth, effective cost control and lower provision for bad debts.
The Chairman, gave the assurance however that inspite of these challenges, the Bank would remain focused by strategically positioning itself to drive respectable and sustainable returns to shareholders.
He announced that the Bank is on a service culture transformation to renew and refresh to serve customers better, saying, "At 60, GCB is retiring the service cultures that have not made it possible to serve our customers better."
Touching on corporate social responsibility, Dr Gockel said the Bank in 2012, spent close to GH¢3 million towards social responsibility programmes on festivals, culture, environment, poverty alleviation, health and education.
Mr Simon Dornoo, Managing Director of GCB, said the Bank would continue to build a reputation that would be trusted to deliver superior returns to shareholders.
He added that the Bank had carved priority areas for 2013 to maintain a safe environment by diversifying revenue through focus on customer service and new product offerings.