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GCB Bank Limited is a tier 1 bank with an asset size of GHS4.87 billion (June 2015), which was incorporated in 1953 to offer banking services to an emerging Ghanaian economy. The bank has the largest exposure to government banking business in Ghana, a situation that caused problems when the state owned Tema Oil Refinery (TOR) failed to pay its debts. The debt was subsequently restructured between 2010 and 2011 to release funds that enabled the bank's new leadership led by Simon Dornoo to rebuild its loan book in targeted sectors, which transformed the bank's financial performance. The new management is also working on expanding the bank's range of products to include treasury and investment banking. However, the most arduous task that the new leadership is embarking on is changing the mindset of bank's workforce from that of a public sector bank to a private sector bank. GCB has the widest network of branches in Ghana (158 branches), which enables the bank to mobilize cheap retail deposits.
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Banking
Deloitte & Touche, Accra.
Ms. Amma Agyeman Kusi-Appouh GCB Bank Building, Thorpe Road, High Street P. O. Box 134, Accra.
Share Registry, GCB Bank Limited, Head Office, High Street, Accra.
GCB Bank Building, Thorpe Road, High Street. P. O. Box 134, Accra.
Development Finance & Holdings Limited. Activity Venture Finance Company (40%). Ghana International Bank Plc (20%).