GCB expands operations to Sierra Leone, Liberia

GCB expands operations to Sierra Leone, Liberia Deputy Managing Director in charge of Operations, GCB, Mr Samuel Amankwah. Source: myjoyonline.com

The Deputy Managing Diector in charge of Operations at GCB Bank, Samuel Amankwah, has disclosed that the bank is expanding its operations to other African countries.

According to him, GCB Bank is extending its operations to Sierra Leone and Liberia. He made the announcement during a forum organized by the 2020 Investment Association in Accra.

This comes after GCB Bank and Morocco’s Attijariwafa Bank Group (AWB), signed a Memorandum of Understanding (MOU) for similar purposes last year. The MOU was aimed at broadening and consolidating financial transactions in Ghana, ECOWAS and beyond.

The partnership also demands that GCB Bank and Attijariwafa Bank Group operate as correspondent banks, facilitate trade finance, deepen capital markets in Ghana and in the North African country.

Mr. Amankwah also touched on the new minimum capital requirement for all banks operating in Ghana. According to him, the ¢400 million minimum capital requirement would result in Ghanaian banks emerging with larger capital to undertake bigger financial deals and transactions.

He further revealed that GBC Bank has currently exceeded the required minimum capital, with the bank having well over ¢500 million. He added that GCB’s deposit base has broadened with networked branches of 183 in addition to 19 agencies.

Source: www.yen.com.gh

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About Cholo Brooks 11651 Articles
Joel Cholo Brooks is a Liberian journalist who previously worked for several international news outlets including the BBC African Service. He is the CEO of the Global News Network which publishes two local weeklies, The Star and The GNN-Liberia Newspapers. He is a member of the Press Union Of Liberia (PUL) since 1986, and several other international organizations of journalists, and is currently contributing to the South Africa Broadcasting Corporation as Liberia Correspondent.