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Ghana Commercial Bank Changes Name
 
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31-May-2013  
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Ghana Commercial Bank LTD is to change its name to GCB Bank LTD. Shareholders of Ghana Commercial Bank on Friday agreed to the change of the name after passing a resolution at the bank's 19th Annual General Meeting (AGM) in Accra.

The change of name is part of re-branding moves being embarked by the bank to make it a world class one.

It’s not clear how soon the change will be effected but in an interview with Citi Business News, Managing Director of the bank, Simon Dornoo said the move is aimed at making the bank a ‘modern,progressive and people centered’ one.

“We are focusing on developing the brand and so have consulted extensively to be a modern progressive and people-centred bank. The main focus is to have a brand that is easily recognizable that people can identify with.”

He also said the re-branding is not only a name change but investing in the branch outlets and make them look modern and very inviting.

Meanwhile, Shares holders of Ghana Commercial Bank (GCB) are to receive 100 percent increase in cash dividends for 2012.

This will see shareholders receive a dividend of 0.14 pesewas per share.

The bank in commemoration of its 60th anniversary also recommended the payment of an interim dividend of 0.4 pesewas for 2013.

The interim dividend worth 10.6 million is to be paid at the same time the 2012 dividend is paid.

GCB last year recorded a total income of over 400 million Cedis making it the most profitable bank for 2012.

Board Chairman of the bank, Dr. Fritz Gockel speaking at its Annual General Meeting (AGM) said GCB’s significant growth in revenues has resulted in a profit after Tax of nearly 150 million cedis compared to the 18 million cedis recorded in 2011.

This represents a 695% growth year on year.

Shareholders however, lashed out at the bank for its poor quality customer service at the various branches.

The shareholders have called for reforms to improve customer service as the bank celebrates its 60th anniversary.


The bank’s stated capital is also to be increased to 100 million cedis from the current 72 million cedis.
 
 
 
 
 

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