GCB Bank Limited on Friday, May 23, held another successful Annual General Meeting (AGM) at the Accra International Conference.
The hundreds of shareholders and customers who attended the meeting used the opportunity to raise issues of concern over the operations of the Bank and offered suggestions to guarantee the growth of the Bank and to maintain its enviable position as the best performing Bank in Ghana.
The shareholders' views expressed by Mr J. K. Annan, Sampson Nyarko, Mr Abeka Biney, Mr K. G. Attuquayefio, Mr Jonathan Quafio Mexico, Mr Richard Hammond, Nana Obrempong Dukopem, Mr Ansah Antwi and O. K. Agyarbeng said they were happy that inspite of the challenging economic environment, the Bank has continued to record robust growth for the past three years.
The Bank recorded a total income of GH¢568 million and profit before tax of GH¢317.1 million at the end of last year, representing 64 per cent growth over the previous year.
The Total Income of the Bank also appreciated by 36 per cent from GH¢418.1million in 2012 to 568.2 million in 2013, with its Total Assets rising by 14 per cent to GH¢3,405 million in 2013 compared to GH¢2,981 million in 2012
The Board of the Bank chaired by Dr. Fritz Augustine Gockel announced a dividend of GH¢66.25 million, (2012: GH¢37.1 million) representing a cash dividend per share of GH¢0.25, (2012: GH¢0.14), a growth of 78.6 per cent over 2012.
"This payment also represents a payout ratio of 29 per cent of profits after tax or 30 per cent of total comprehensive income of 2013," he said.
"This was in spite of the decline of about five percentage points in rates of instruments on the money market where GCB is structurally dominant by the end of the year," Dr Gockel said.
He said in 2013, the Bank took a distinctive approach to community support through its philosophy of "Touching lives wherever we are."
Consequently, the Bank built a five-unit classroom block with rest room, kitchenette and toilet facilities at the cost of GH¢38,000 for Fawoman, a community in the Ahafo-Ano South District in the Ashanti Region and added that by this approach, the Bank was making connections with society for the long term.
The Managing Director of GCB, Mr Simon Dornoo, said the Bank was putting in measures in place to ensure improved customer service.
He said there are complaints by customers about queuing at the banking hall, which was being resolved with pragmatic measures, saying that it had increased and doubled its Automated Teller Machines (ATM) to 250.
The Bank has introduced internet banking, as well as other self service portals which customers could access without going to the banking hall.
Mr Dornoo stated that GCB has a better understanding of the Ghanaian market and was prepared to deliver the best services to consumers.
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