GCB expands operations to Sierra Leone, Liberia

GCB expands operations to Sierra Leone, Liberia

The Deputy Managing Director 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.

GCB expands operations to Sierra Leone, Liberia

Deputy Managing Director in charge of Operations, GCB, Mr Samuel Amankwah. Source: myjoyonline.com

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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.

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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.

Mr. Amankwah expressed faith in the Bank of Ghana to be able to sanitize the financial sector and to make it stable for all stakeholders.

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Source: Yen.com.gh

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