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GCB GETS FULL COMPLEMENT OF BOARD

2014-01-09T14:53:08+00:00

Three new directors from various professional disciplines have been appointed to the Board of the Bank.

They are Mr. Ernest Kwasi Okoh, a Management expert who is currently the Managing Director of Aluworks, Dr. Abdul Aziz Bamba, a Lawyer and Lecturer at the Faculty of Law, University of Ghana and Mr Kofi Worlanyo, a Principal IT Consultant with CRO Consulting.

This brings to nine, the number of external directors on the GCB Board plus three Executive Directors which makes the full board of 12 members.
The Board is chaired by Dr. Fritz Gockel, an Economist and Head of the Economics Department, University of Ghana.
Other members of the Board are Mrs. Adelaide Benneh, HR and Management consultant , Mr. Elliot Gordor and Madam Faustina Nelson both Entrepreneurs.

The rest are, Mr. Moses Asaga, an expert in Finance and former Deputy Minister of Finance now Chief Executive of the National Petroleum Authority and Mr. Kweku Ricketts-Hagan, a Deputy Minister of Finance.

Press Statement

2014-01-08T11:31:29+00:00

G.C.B.L. 33
GHANA
COMMERCIAL
BANK LTD.

EST 1953

JANUARY 7, 2014.

PRESS STATEMENT

GCB responds to media publication

Our attention has been drawn to a news item being carried by the media about some funds that have been ''siphoned from the vaults of GCB''.

We wish to assure our loyal customers and the general public that there is no cause for alarm as no funds have been ''siphoned from the vaults'' of the bank. Our customers' deposits are safe and the bank's vaults are very secure.

The Bank noticed some unusual withdrawals over the counter by customers in certain branches and took immediate steps to confirm the genuineness of these transactions. In the process, the Bank arrested the culprits the same day (and some the following day) who are going through due investigative process. The Bank proactively reported the matter to the Police and EOCO and is collaborating with them to carry out further investigations into the incident.

To commence their investigations EOCO issued a letter to the Bank authorizing it to freeze the accounts on which the suspicious transactions had been carried out.

While this incident is unfortunate we are pleased with the speed with which the incident was detected and dealt with. We can also assure the general public and our customers that the Bank continues to invest in its Technology infrastructure to ensure that appropriate controls are in place to prevent or speedily detect any fraudulent activity as happened in this case.

The statement in the media that the incident occurred with the connivance of the Bank's IT department has not been established. We would urge the media to collaborate with the law enforcement agencies in order not to jeopardise the investigative work being carried out.

We would like to take this opportunity to thank all our stakeholders, informants and the law enforcement agencies who worked with us to bring this issue under control.

Issued by Management of GCB.

MD Walks With Queen's Baton

2014-01-07T15:50:42+00:00

The Managing Director, Mr Simon Dornoo, was among the dignitaries who received the Queen's Glasgow Baton Relay at the weekend.

The MD who received the baton from the Deputy Governor of the Bank of Ghana, Mr Millison Narh, at the High Street in Accra, walked with the decorated cudgel from the traffic light between GCB and the High Courts to the forecourt of the Supreme Court where he handed it over to Sharad Rao, Honorary Legal Advisor to the Commonwealth Games Federation who presented it to the Chief Justice, Mrs Georgina Wood.

The Glasgow 2014 Queen's Baton Relay is the traditional curtain raiser to the Commonwealth Games and has been a part of the Games programme since the Cardiff 1958 Commonwealth Games in Wales.

The trip to Commonwealth destinations began at Buckingham Palace Oct 9 last year. Ghana is the 22nd country to receive the baton which will travel to 70 Commonwealth destinations.
The Baton arrived Friday night, January 3, 2014, at Ghana's Kotoka International Airport on a Kenyan Airways flight from Sierra Leone. It was in the company of officials of the Commonwealth games secretariat.

Ghana to date has won 51 medals at the Commonwealth Games, including 15 gold, with all but one of their medals coming in athletics and boxing.
Ghana's highest haul of medals at a Commonwealth Games was nine medals won in 1974.

Ghana won 4 medals at the last Games in 2010.
Ghana has competed at 13 Commonwealth Games, beginning in 1954 and missing only the 1986 Games in Edinburgh.
GCB supports sports as part of our corporate social responsibility.

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GCB Adjudged Best Bank In Ghana

2013-12-20T11:06:12+00:00

Ghana Commercial Bank Ltd. (GCB) has again been adjudged the Best Bank in Ghana by the Banker Magazine of the UK in recognition of sound business and product innovations.

The awards programme, organised annually by the prestigious Magazine, a publication of the Financial Times Group in the UK, rewards and promotes industry-wide excellence in the global banking community and banks are judged on their ability to deliver shareholder returns and gains in strategic advantage.

The Head of Corporate Banking Division of GCB, Mr George Fuachie, collected the award at a ceremony recently held in London.

In an earlier letter to the Bank to confirm the award, the magazine said, "We are delighted to announce that the judging panel for this year's Bank of the Year Awards has chosen Ghana Commercial Bank as the winner of our Bank of the Year in Ghana 2013. "Congratulations to you, your management, board and the employees who have made this possible."

It said, "The trust that clients have shown in you over the past months will serve your institution well in the year ahead and the recognition of being named 'Bank of the Year 2013' in your country by the world's longest running international banking title is testament to the strong management, sound business model and prudent risk approach of your institution."

In 2012, GCB was adjudged the Best Bank by the Magazine. The 2013 Banker award brings to three the number of awards received by the Bank between the months of September and November this year.

The Chartered Institute of Marketing Ghana (CIMG) on September 20, 2013 adjudged GCB as the Best Bank in Ghana for 2012 while GCB emerged Best Performing (Ai 100) Company 2013 at the Africa investor (Ai) Index Series Awards held at the New York Stock Exchange on September 24 this year.

The awards programme is aimed at rewarding and promoting industry-wide excellence in the global banking community.

This award coincides with the celebration of 60 years of banking excellence in Ghana
by GCB this year.

Commenting on the award, the Managing Director, Mr Simon Dornoo, said it is an endorsement of the Bank's strategy that has delivered a marked change in business performance and positioned the Bank for further growth and expansion.