GCB launches 60th anniversary (Spread)

Ghana Commercial Bank yesterday launched its 60th anniversary in Accra, with the pledge to channel more energy into customer satisfaction and the expansion of its services.

Launching the celebration of the bank’s sixth decade of existence, the Managing Director, Mr Simon Dornoo, said the bank, “now the financial supermarket of the nation, continues to introduce products for the benefit of the various groups of our society, having chalked up firsts in some of the most innovative banking products introduced in the country”.

The bank started in 1953 as the Bank of the Gold Coast to provide banking services for the emerging nation for socio-economic development. It was to provide special attention for Ghanaian traders, businesses and farmers who could not receive support from the expatriate banks.
Since then, it has been at the forefront of banking in the country.

In 1957, when Ghana attained independence, the Bank of Ghana was established as the central bank, while the Bank of the Gold Coast was renamed Ghana Commercial Bank to focus solely on commercial banking services.

Today, the GCB has the widest coverage in Ghana, with 158 branches and 15 agencies scattered across the country.

At the time of its establishment, critics had mocked the idea that an indigenous bank could survive in a country where banking was yet to be part of the culture of the indigenes.

But 60 years on, Mr Dornoo, who also unveiled the bank’s anniversary logo, observed that “that indigenous bank has not only offered banking services to the nation but also broadened its scope of operation from small businesses to large corporate entities”.

He said  the bank was working towards introducing a rebranded bank that customers of the bank would be proud of.

“We have listened to our over two million customers and the public. 2013 will be a year during which the nation’s premier bank takes banking to another level. We will outdoor a new ultra-modern retail branch designed to fit the refreshed GCB brand,” he added.

The theme for the anniversary is:  “GCB —  60 years of Service to Ghana - Customers, Businesses and Community” and the programmes lined-up for the three-month celebrations include GCB staff community service on April 6; a roundtable discussion on a banking issue of interest to the public on April 17; tree planting in schools on April 19; a family fun day on May 1; annual general meeting on May 31; dinner/awards night to celebrate the bank’s achievers on June 23.

 The celebrations will be climaxed on June 29 with a church service at the Ridge Church in Accra.

The bank had been wholly government owned until 1996 when, under the economic recovery programme, part of the government’s shares was divested. Currently, government ownership stands at 21.36 per cent, while institutional and individual holdings add up to 78.64 per cent.

The bank’s staff strength has increased tremendously over the years. From 27 when it began its operations, GCB had, as of 2009, employed 2,101 workers.