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03.06.2004 Business & Finance

GCB Opens 131st Branch

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Reports say GCB on Wednesday opened its 131st branch at Dome to augment its drive at meeting customers at their doorstep and creating an avenue to maximise banking transactions in the country.

The Managing Director of GCB, Mrs Matilda Obeng-Ansong who addressed the ceremony said the Bank had reduced its lending rate to 25 per cent to be in line with the reduction in Bank of Ghana's Prime rate, which dropped to 18.5 per cent last week.

She said she was optimistic that the downward review of interest rates would encourage customers to borrow and expand their businesses.

Mrs Obeng-Ansong also said the electronic ticketing system, which was at the new branch, was to ensure an orderly turn out of customers and save them the hassle of struggling in queues.