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25.05.2007 General News

GCB spreads tentacles in Northern region

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Ghana Commercial Bank Limited would soon open four more branches in some strategic towns in the Northern region.

The bank plans to open branches in Walewale the capital of the East Mamprusi District and Zabzugu, capital of the Zabzugu/Tatale District, Saboba in the Saboba/Chereponi District and Sawla, district capital of the newly created Sawla/Tuna/Kalba District.

Plans are advanced to open two more branches in the Tamale metropolis to ease congestion at the Tamale Main Branch and the Aboabo market branch.

Mr. Ernest B. Kanton, Area Manager of the GCB in-charge of the Northern, Upper East and Upper West regions, said this at the launch of the GCB Rights Issue in Tamale.

The GCB, through this Rights Issue, hopes to raise ¢450 billion by issuing ¢75 million ordinary shares at ¢6,000 per share in a ratio of one new share for every 2.2 existing shares to its shareholders and interested customers both in the country and abroad.

Mr. Roko Frimpong, Deputy Managing Director of the GCB in-charge of Operations, said the GCB's strategic focus was to consolidate its retail banking business and to reposition itself in respect of Small and Medium Enterprises (SMEs) and the large corporate banking businesses.

He said in line with this, the bank seeks to expand and enhance accessibility of branch and account nation-wide to retail customers and also provide a platform for cooperates and SMEs.

Source: GNA

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