GCB Bank to extend its services to other West African countries

Mr. Anselm Ransford Adzetey Sowah, the Managing Director of GCB Bank has revealed that the bank plans to expand its operations into the West Africa sub-region, beginning with the English-speaking countries. The Bank is also exploring with a foreign partner to form a joint venture to provide insurance products to Ghanaians.

Speaking at the Facts behind the Figures programme organized by the Ghana Stock Exchange in Accra, Mr. Sowah highlighted the Bank’s intentions.

“We are also looking at the sub-region. We have an agenda of moving into various countries and we are prosecuting that agenda. We do hope that we will make investments into other countries and that will inure to the benefit of people to have the opportunity of going out to learn new things and to teach people what they have learnt here,” he told investors, media and brokers.

GCB Bank Limited is set to introduce new products as part of efforts to expand its operations, promote digitization and improve the quality of service it renders to customers and the general public.

GCB’s mobile wallet, Internet Banking with trade solution and mobile application will all be launched by July 2019 while the Agency Banking will be introduced in December 2019.

Mr Sowah added that the Bank has decided to diversify and is looking to boost non-funded income. In this direction, the Bank is converting its subsidiary, called Development Finance Holdings into a full investment Bank to be known as GCB Security Limited.

“That subsidiary is going to do all the works in investment banking in this country and compete for business in terms of book running and investments. So, we do hope that we will create another stream of income from that,” he added.

The focus on providing first-class banking solutions to all customers and value to stakeholders and to meet the everyday needs of customers is in line with GCB Bank’s strategic plan. In this regard, the Bank will rely heavily on safe, secure and convenient mobile and digital banking to drive the agenda of bringing banking to the doorstep of the people.

“We want to let people from all walks of life, especially the un-banked have access to banking in a way they have never experienced before. We also have a mobile banking wallet, which is coming out shortly and will be accessible to the public,” he revealed.

Speaking on the digitization of the Bank, Mr. Socrates Afram, the Deputy Managing Director Finance, mentioned that the Bank would be aggressive in its approach to digitalization to drive revenue in the coming years.