All of the bank’s 133 branch offices and 10 agencies were linked to the GBC Wide Area Network, thereby facilitating an enhanced capacity for the bank and providing a platform for introducing electronic-based products. The bank also rolled out its first web-based product and is piloting it among selected customers, aiming to deepen online banking for its clients.
The group also strengthened its capital base through a rights issue to improve its systems, human capital and physical structures, as well as to invest in product development. These initiatives are aimed at making the bank more competitive, increasing profitability and ultimately boosting shareholder return. The bank kept a sharp focus on risk management in relation to the operating environment. It was able to improve its loan quality, thereby reducing the NPL ratio dramatically from 15% to 3% in the year. At the same time, RoE was increased from 18% to 28%, with a sharp drop in the cost-income ratio from 77% to 67%.
The group strengthened its operational control systems by appointing a compliance officer to evaluate operational processes and procedures. It has also put in place a product development committee to review and evaluate its products and services in the market. And it acquired MasterCard Principal Status for its international card business, putting 50 ATMs into service.
“The awards rate GCB among banks of international repute,” says chief executive Adu Mante. “GCB appreciates these efforts of The Banker and is delighted to be associated with these awards.
“GCB plans to enrich stakeholders in the future. Innovative electronic products, improved service quality, sufficiency of loans and appropriate delivery channels are features of the unique branding the bank will undertake to delight customers. Commensurate returns are our expectations for stakeholders.”
