Ghana Commercial Bank Limited (GCB) is to launch an automated Small and Medium Scale Enterprises (SMEs) lending facility this year.
The new product, targeted at SMEs will achieve a faster turnaround time for processing SME loans in the country.
The introduction of the automated SME loan facility follows the successful implementation of the GCB 24Hour Personal Loan for the past two years under which over GH¢300 million has been disbursed to salaried workers and other private individuals.
The Managing Director of GCB, Mr Simon Dornoo, announced this at the Bank's 60th Anniversary Awards and Dinner Dance held in Accra.
The ceremony was in recognition of the contribution of customers, staff, former employees, shareholders, individuals and corporate organisations towards the growth and development of GCB over the past 60 years.
The MD said GCB's corporate and treasury businesses are being strengthened to improve relationship management, sales and service delivery to customers.
He said the Bank paid a total of GH¢60 million in corporate taxes and dividend to government for the year 2012 as against GH¢22 million in 2011.
He said the Bank's management aims at radically improving customer service to sustain growth.
"This also includes modernising and optimising our branch network to improve customer service delivery," he added.
The Minister of Finance Minister, Mr Seth Tekper, who was the guest speaker advised management of the Bank to roll out facilities to SMEs particularly those exporting their goods and services to enable such enterprises to contribute towards socio-economic growth.
He expressed optimism that GCB with its capacity can lead in export finances to SMEs should the Bank focus on that area.
"We will be happy to see GCB lead in export finances to SMEs even as the country considers its diversification and value addition in agro-processing and in the downstream petrochemical industry," he said.
He commended the Bank for investing in technology with the view to delivering superior turnaround time in decision making and improving access to the much-needed finance.
Mr Tekper expressed the hope that the Bank could contribute to stabilise the value of the cedi and boost the country's economic gains through the support to SMEs.
He commened the Management for their efforts at repositioning the Bank, credit support given to strategic areas of the economy and corporate social responsibilities.
The Board Chairman of the Bank, Dr Fritz Gockel, said GCB has witnessed a phenomenal growth over the years, citing the performance of the GCB stock as an example.
He said the Bank is determined to implement a framework that will promote performance, excellent customer service and growth.