[ 2012-06-30 ]

Ghana Commercial Bank to deploy modern systems to enhance service delivery
Accra, June 29, GNA - Ghana Commercial Bank (GCB)
would deepen its wide area network base, deploy
modern systems and technology to provide
integrated back and front office operations to
enhance quality service delivery, Board Chairman,
Dr Fritz Gockel said in Accra on Friday.

Addressing the 18th Annual General Meeting of the
bank, Dr Gockel said the strategies were part of
broad objectives to reposition the bank to ensure
the delivery of quality service and creation of
value for shareholders.

He said the bank would develop an appropriate mix
of products and services to suit the changing
demands and requirements of customers.

“The Bank will strengthen its capacity to lead in
the financing of consumer credit and financially
rewarding businesses in key sectors of the
economy,” Dr Gockel said.

Last year, the bank embarked on a change
management process dubbed "Good to Great" aimed at
boosting the performance and placing it among the
top banks in the country.

Among the critical issues being dealt with under
the change programme include short to long term
optimisation of shareholder value, improving the
bank's governance framework, branch upgrading to
ensure comfort, convenience and development of
products to make banking easier.

On financial performance, the group recorded a net
income of GH¢278.1 million, representing 6.7 per
cent increase above the 2010 net income.

Dr Gockel said there was significant improvement
in the bank's impairment charge on loans and
advances which dropped from GH¢70.9 million in
2010 to GH¢10.6 million in 2011 on effective risk
management strategies.

There was a boost in customer deposits to GH¢2.06
billion compared to GH¢1.58 billion in 2010.

“On the whole, the year's operations resulted in
profit after tax of GH¢17.9 million for the group
compared with the GH¢50.9 million realised in
2010,” he said and explained that the decline in
profits was because of some of the changes
embarked on.

Shareholders approved a dividend of GH¢0.07 per
share amounting to GH¢18.6 million, which is the
same as the amount paid last year.

Source - GNA

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