GCB Bank has successfully completed the full integration of the systems of the erstwhile UT and Capital banks to offer customers a wide network of some 183 branches across the country.
The integration included the consolidation of core banking applications, procedures and processes, the training of staff and the streamlining of the branch network.
GCB has retained 22 out of the 53 branches of the defunct institutions based on their location and accessibility to customers.
As a result of the integration, staff numbers have been rationalized and GCB has absorbed almost 70 percent of the permanent staff of those banks. Contract staff services, which are no longer required have been dispensed with.
Departing employees are to be paid a month's salary in lieu of notice plus any earned leave since August last year.
The Bank in undertaking this exercise was mindful of its economic and social impact and therefore went to great lengths to strike the right balance in the interest of all stakeholders.
GCB Bank is grateful to customers and all other stakeholders for their support and understanding during the period of the integration.
GCB, your bank for life.
ISSUED BY THE MANAGEMENT OF GCB BANK LTD.