GCB Bank Limited, last year, recorded a net profit of GH¢323.13 million, thus posting a significantly improved bottom line.
This translates into growth of GH¢ 110.42 million over the GH¢212.72 million recorded in the 2017 financial year.
A statement issued by the Corporate Affairs Department of the Bank, in Accra, on Thursday, said the top line growth was appreciable despite instability in the banking industry; with 2018 recording GH¢1,260 million as total income, compared to GH¢1,113 million recorded in 2017.
The Bank further took the lead in mobilising GH¢ 1,379 million to end the year with GH¢ 8,335 million in deposits, it said.
GCB also chronicled total assets of GH¢10,635 million making it the Bank with the largest asset base in Ghana.
The Deputy Managing Director of GCB Bank in charge of Operations, Mr Samuel Amankwah who disclosed this said: “As a forerunner, GCB is establishing and deepening correspondent banking relationship with Sierra Leone and Liberia in West Africa.”
In 2017, GCB Bank and Attijariwafa Bank Group (AWB), Morocco’s largest financial institution signed a Memorandum of Understanding (MOU) to broaden and consolidate financial transactions in Ghana, ECOWAS and beyond.
Under the partnership, GCB Bank and Attijariwafa Bank Group (AWB) will operate as correspondent banks, facilitate trade finance, deepen capital markets and jointly organise business missions designed to enhance trade and investment between Morocco and Ghana.