Business News of 2014-04-14

GCB records impressive profit

Ghana Commercial Bank (GCB) has delivered another round of strong performance for 2013, as the group recorded a profit after tax of GH¢229 million, up by 60 per cent in the previous year.
Net Income increased by 42 per cent to GH¢579 million, driven by business growth and gains in operating efficiency.
A statement issued by the bank said it had now firmly repositioned itself among the top-performing banks in the country as shown by the phenomenal growth in profits recorded over the last few years, which is a reflection of its strong franchise.
“We understand that the bank will soon launch a new brand mark and unveil a prototype retail banking environment which will begin the process to upgrade its branch network,” the statement said.
It said the bank was also beginning to reap the benefits of ongoing investments in technology, risk management systems and channel enhancement.
Its ATM network has more than doubled to 245 across the country, to complement activities of its 157 branch outlets; and its Internet banking and other payment solutions are some of the best in the country.
“GCB’s flagship product, the 24 Hour Loan, is now clearly a market leading product in the consumer banking segment,” management of the bank said in the release.
GCB has started the second phase of its transformation journey that involves re-branding the bank and a branch restructuring and upgrade programme to reflect a new image as a modern, progressive and customer-centred bank.