Details of Ghana Commercial Bank Limited

Company Profile

SymbolGCB
Company NameGhana Commercial Bank Limited
Stated CapitalGHC 72,000,000
SecurityGCB Ordinary Shares of No Par Value
Nature of BusinessBanking and related services.
Date Incorporated20th May 1953
CommentsA state owned organisation. Converted to public company on September 7, 1994
Date Listed17th May. 1996
Registered OfficeGhana Commercial Bank Ltd. Thorpe Road. High Street.Accra
Postal AddressP.O. Box GP 134, Accra.
Tel0302668712/ 0302668656
Fax
Emailprelations@gcb.com.gh
Websitewww.gcb.com.gh
Types of Traded SecuritiesOrdinary Shares of no par value
Issued Shares(GH) (mil.)265.00
Authorised Shares1,500,000,000
DirectorsSimon Dornoo - Managing Director, Ms. Ama Sarpong Bawuah-Non-Executive Director, Alhaji Alhassan Yakubu-Non-Executive Director, Elliot Gordor - Member, Abdul Baasit Aziz Bamba, Moses Asaga, Kwasi Okoh, Kofi Worlanyo, Faustina Nelson, Kweku Ricketts-Hagan, Mr. Martyn Andrew Kofi Gbordzor Mensah , Mr. Mark Dominic Sandys
Change of Name
Comments

Press Releases

July 2018

GCB announces the appointment of the Alhaji Alhassan Yakubu as Non-Executive Director (SSNIT Representative) to the Board of the Bank to replace Mr. Richard Oppong who has resigned from the Board.

Attached is a brief profile.

Issued in Accra, this 18 th day of July, 2018.

June 2018

Final Dividend
GCB announces that the Bank’s Directors will be recommending to the shareholders at the upcoming Annual General Meeting, the payment of a Final Dividend of GH¢0.10 per share for the 2017 financial year.
 
Qualifying date
Members registered in the books of GCB at the close of business on Friday, 15th June, 2018 will qualify for the payment of the final dividend.
 
Closure of Register
The Register of shareholders will be closed from Monday, 18th June, 2018 to Friday, 22nd June, 2018 (both dates inclusive).
 
Ex-Dividend Date
The ex-dividend date has been set as Wednesday, 13th June, 2018. Consequently, an investor purchasing GCB shares before this date will be entitled to the final dividend. However, an investor buying GCB shares on or after Wednesday, 13th June, 2018 will not be entitled to the final dividend.
 
Dividend Payment Date
The final dividend will be paid on Monday, 30th July, 2018.
 
Annual General Meeting
GCB also announces that the Bank’s Annual General Meeting will be held at the Accra International Conference Centre, on Friday, 6th July, 2018 at 10.00 am.
 
Issued in Accra, this 5th day of June, 2018.

May 2018

GCB has released the attached announcement for the information of the general investing public.

Issued in Accra, this 7 th day of May, 2018.

GCB has sought approval from the Ghana Stock Exchange and the Securities and Exchange Commission to delay the submission of its audited 2017 financial results as well as un-audited first quarter 2018 results.
 
The Bank in its request explained that the delay in issuing the above results has been occasioned by the purchase and assumption of the UT and Capital Banks and the need to audited and consolidate the financial statements of GCB Bank Ltd and
the assumed banks.
 
GCB has further indicated that both results would be issued by May 31, 2018.
 
Issued in Accra, this 2nd day of May, 2018.

October 2017

GCB announces the resignation of Mr. Samuel Sarpong from the board of the bank effective 28th September, 2017.

Issued in Accra, this 20th day of October, 2017.

August 2017

GCB has released the attached announcement for the information of the general investing public.

Issued in Accra, this 14th day of August, 2017.

April 2017

GCB announces the resignation of the under-listed Non-Executive Director of the

Bank effective 24th April, 2017:

1. Ms. Ama Sarpong Bawuah - Member

2. Mr. Elliot Gordor - Member

Issued in Accra, this 26th day of April, 2017.

GCB announces the appointment of Mr. Anselm Ray Sowah as the Managing Director of the Bank, effective 10th April, 2017.

Attached is a brief profile of Mr. Sowah.

Issued in Accra, this 12th day of April, 2017.

GCB announces the appointment of the following Directors of the Bank effective 6th April, 2017:

Mr. Jude Kofi Arthur          -        Board Chairman
Mrs. Lydia Essah               -        Member
Mr. Ray Sowah                 -        Member

Issued in Accra, this 10th day of April, 2017.

Attachment 1

Attachment 2

Attachment 3

August 2016

GCB announces the appointment of Mr. Ernest Mawuli Agbesi as the Managing Director of the Bank effective August 1, 2016.

Attached is the a brief profile of Mr. Agbesi.

Issued in Accra, this 29th day of July, 2016.

April 2016

Final Dividend
GCB announces that the Bank’s Directors will be recommending to the shareholders at the upcoming Annual General Meeting, the payment of a final dividend of GH¢0.33 per share for the 2015 financial year.

Qualifying date
Members registered in the books of GCB at the close of business on Friday, 13th May, 2016 will qualify for the payment of the final dividend.

Closure of Register
The Register of shareholders will be closed from Monday, 16th May, 2016 to Friday, 20th May, 2016 (both dates inclusive).

Ex-Dividend Date
The ex-dividend date has been set as Wednesday, 11th May, 2016. Consequently, an investor purchasing GCB shares before this date will be entitled to the final dividend. However, an investor buying GCB shares on or after Wednesday, 11th May, 2016 will not be entitled to the final dividend.

Dividend Payment Date
The final dividend will be paid on Monday, 20th June, 2016.

Annual General Meeting
GCB also announces that the Bank’s Annual General Meeting will be held at the Accra International Conference Centre, on Friday, 27th May, 2016 at 10.00 am.

Issued in Accra, this 19th day of April, 2016.
GCB announces the appointment of Mr. Socrates Afram (Chief Finance Officer) as a Director of the Bank effective March 24, 2016.

Issued in Accra, this 1st day of April, 2016.

March 2016

GCB has released the attached announcement for the information of the general investing public.

Issued in Accra, this 1st day of March, 2016

April 2015

GCB announces that Mr. John Awuah has resigned from the Board of the Bank effective March 26, 2015.

Issued in Accra, this 10th day of April, 2015.

March 2015

Final Dividend
GCB announces that the bank’s Directors will be recommending to the shareholders at the upcoming Annual General Meeting, the payment of a final dividend of GH¢0.32 per share for the 2014 financial year.

Qualifying date

Members registered in the books of GCB at the close of business on Friday, 15th May, 2015 will qualify for the payment of the final dividend.

Closure of Register

The Register of shareholders will be closed from Monday, 18th May, 2015 to Thursday, 21st May, 2015 (both dates inclusive).

Ex-Dividend Date

The ex-dividend date has been set as Wednesday, 13th May, 2015. Consequently, an investor purchasing GCB shares before this date will be entitled to the final dividend. However, an investor buying GCB shares on or after Wednesday, 13th May, 2015 will not be entitled to the final dividend.

Dividend Payment Date

The final dividend will be paid on Monday, 22nd June, 2015.

Annual General Meeting

GCB also announces that the bank’s Annual General Meeting will be held at the Accra International Conference Centre, on Friday, 22nd May, 2015 at 10.00 am.

Issued in Accra, this 31st
day of March, 2015.

November 2014

GCB announces the appointment of Ms. Ama Sarpong Bawuah, as a Non-Executive Director on the Board of the bank effective Tuesday, November 25, 2014.

Attached is a brief profile.


Issued in Accra, this 27th day of November, 2014.

August 2014

GCB announces that Dr. Fritz Augustine Gockel and Mrs. Adelaide Mary Benneh (Non-Executive Directors) have ceased to be Directors of the Bank, effective May 26, 2014.

Issued in Accra, this 5th
day of August, 2014

May 2014

GCB announces that the bank’s 20th Annual General Meeting will be held at the Accra International Conference Centre, on Friday, 23rd May, 2014 at 10.00 am.


Issued in Accra, this 20th
day of May, 2014

April 2014

Final Dividend
GCB announces that the bank’s Directors will be recommending to the shareholders at the upcoming Annual General Meeting, the payment of a final dividend of GH¢0.21 per share. The bank paid an interim dividend of GH¢0.04 in June 2013, therefore the dividend for the 2013 financial year is GH¢0.25.

Qualifying date
Members registered in the books of GCB at the close of business on Monday, 19th May, 2014 will qualify for the payment of the final dividend.

Closure of Register
The Register of shareholders will be closed from Tuesday, 20th May, 2014 to Thursday, 22nd May, 2014 (both dates inclusive).

Ex-Dividend Date
The ex-dividend date has been set as Friday, 16th May, 2014. Consequently, an investor purchasing GCB shares before this date will be entitled to the final dividend. However, an investor buying GCB shares on or after Friday, 16th May, 2014 will not be entitled to the final dividend.

Dividend Payment Date
The final dividend will be paid on Monday, 30th June, 2014.

Issued in Accra, this 30th
day of April, 2014.

August 2013

GCB announces the appointment of Hon. Kweku Ricketts-Hagan and Mr. Moses Aduko Asaga as Non-Executive Directors, on the Board of Ghana Commercial Bank Ltd. effective 31st July, 2013 - profiles attached.
 
 
Issued in Accra, this 2nd
day of August, 2013

June 2013

GCB announces the resignation of Hon. Fifi Kwetey as a Director on the GCB Board with effect from 3rd June, 2013.


Issued in Accra, this 12th
day of June, 2013.

April 2013

Final Dividend
GCB announces that the bank’s Directors will be recommending to the shareholders at the upcoming Annual General Meeting, the payment of a final dividend of GH¢0.14 per share for the 2012 financial year.
 
Qualifying date
Members registered in the books of GCB at the close of business on Friday, 31st May, 2013 will qualify for the payment of the final dividend.
 
Closure of Register
The Register of shareholders will be closed from Monday, 3rd June, 2013 to Friday, 7th June, 2013 (both dates inclusive).
 
Ex-Dividend Date
The ex-dividend date has been set as Wednesday, 29th May, 2013. Consequently, an investor purchasing GCB shares before this date will be entitled to the final dividend. However, an investor buying GCB shares on or after Wednesday, 29th May, 2013 will not be entitled to the final dividend.
 
Dividend Payment Date
The final dividend will be paid on Friday, 28th June, 2013.
 
Issued in Accra, this 30th     
day of April, 2013
Interim Dividend
GCB announces an Interim Dividend of GH¢0.04 per share in respect of its 2013 financial year.
 
Qualifying date
Members registered in the books of GCB at the close of business on Friday, 31st May, 2013 will qualify for the payment of the interim dividend.
 
Closure of Register
The Register of shareholders will be closed from Monday, 3rd June, 2013 to Friday, 7th June, 2013 (both dates inclusive).
 
Ex-Dividend Date
The ex-dividend date has been set as Wednesday, 29th May, 2013. Consequently, an investor purchasing GCB shares before this date will be entitled to the interim dividend. However, an investor buying GCB shares on or after Wednesday, 29th May, 2013 will not be entitled to the interim dividend.
 
Dividend Payment Date
The interim dividend will be paid on Friday, 28th June, 2013.
 
Issued in Accra, this 30th     
day of April, 2013
GCB announces that the bank’s Annual General Meeting will be held at the Accra International Conference Centre, on Friday, 31st May, 2013 at 10.00 am.


Issued in Accra, this 22nd
day of April, 2013
GCB announces the appointment of Mr. John Awuah, the Chief Finance Officer of the bank, as a member of the Board of Directors effective 27th March, 2013.


Issued in Accra, this 2nd
day of April, 2013

November 2011

GCB has announced that Mr. Pryce Kojo Thompson, a Non-Executive Director of the bank’s Board, has resigned as a Director effective November 1, 2011.


Issued in Accra, this 1st
day of November, 2011

March 2010

Final Dividend
GCB has announced a Final Dividend of GH¢0.0356 per share in respect of its financial year ended December 31, 2009.

Qualifying date
All shareholders registered in the books of GCB at the close of business on Tuesday, April 13, 2010 will qualify for the final dividend of GH¢0.0356 per share which would be approved at the Annual General Meeting.

Closure of Register
The Register of shareholders will be closed from Wednesday, April 14, 2010 to Wednesday, April 21, 2010 (both dates inclusive).

Ex-Dividend Date
In view of the foregoing, the ex-dividend date has been set as Friday, April 9, 2010. Consequently, an investor purchasing GCB shares before this date will be entitled to the final dividend. However, an investor buying GCB shares on or after Friday, April 9, 2010 will not be entitled to the final dividend.

Dividend Payment Date
The final dividend of GH¢0.0356 will be paid on Friday, May 28, 2010.


Issued in Accra, this 24th
day of March, 2010
Results
GCB has released its 2009 Annual Report and Accounts for the year ended December 31, 2009, as per the extracts attached.

Annual General Meeting
The bank’s 16th Annual General Meeting will be held on Friday, March 26, 2010 at the Accra International Conference Centre, at 10.00 am.


Issued at Accra, this 19th
day of March, 2010


CLICK HERE TO VIEW DETAILS

November 2009

GCB has announced that Mr. Elliot Gordor and Ms. Lauretta Vivian Lamptey have been nominated by SSNIT as Non-Executive Directors on the Board of the bank on November 3, 2009.

PROFILE OF MR. ELLIOT GORDOR
Mr. Elliot Gordor is a seasoned business executive with over twenty-five years experience. He is also the Managing Director of Gelloq Company (GH) limited, a major player in Ghana’s haulage and logistic industry with subsidiaries in Togo and the United States of America (USA), Concepts Export Ltd, a logistics company and a director of Conway & Sons LLC, USA and the Tema Development Corporation.

Mr. Gordor is a product of the University of Ghana and the University of Mississippi with specialization in Business Administration.

PROFILE – LAURETTA VIVIAN LAMPTEY
Lauretta Lamptey is an investment banker and specialist in African capital markets and corporate finance. She was Head of Corporate Finance at Cal Merchant Bank and prior to that was Head of the Capital Markets Group at Ecobank Ghana Ltd. Ms. Lamptey was also formerly Legal & Corporate Finance Advisor at Loita Capital Partners International, a pan-African investment banking group based in Johannesburg.

As a consultant she has provided legal, financial and investment advice to the Government of Ghana on transactions in the mining, natural resources and energy sectors. In South Africa she served as a transaction adviser in the setting up of the second national telecommunications operator, and as a consultant on a review of development finance institutions in South Africa undertaken by the National Treasury.

Ms. Lamptey has served on the boards of the Securities Discount Company (SDC) and Gliksten W. A. as well as being a founder member of the board of the Ghana Stock Exchange. She holds L.L.B. and B.L. degrees from the University of Ghana and the Ghana Law School respectively, and an L.L.M. in International Business Law from the London School of Economics & Political Science (LSE) of the University of London.
Issued at Accra, this 13th
day of November, 2009

July 2009

GCB has announced that the underlisted persons have been appointed as the Non-Executive Directors on the Board of the bank, effective March 30, 2009.

i. Mr. P. Kojo Thompson
ii. Mrs. Charlotte Osei
iii. Mrs. Margaret Clarke-Kwesie
iv. Dr. A. Fritz Gockel
v. Alhaji Abukari Sumani
vi. Mr. Lovelace Prempeh
vii. Mr. Fifi Fiavi Kwetey

Their profiles are as follows:

GCB has announced that the underlisted persons have been appointed as Independent Non-Executive Directors on the Board of the bank, on July 7, 2009.

i. Mr. Joshua Kwaku Kyeremeh Peprah
ii. Mrs. Adelaide Mary Benneh

Their brief profiles are as follows:

Financial Statements

October 2017

GCB has released its unaudited Financial Statements for the third quarter ending September 30, 2017 as per the attached.

Issued in Accra, this 26 th day of October, 2017.

March 2017

GCB has released its audited Financial Statements for the year ended December 31, 2016, as per the attached.

Issued in Accra, this 29th day of March, 2017

November 2016

GCB has released its unaudited Financial Statements for the third quarter ending September 30, 2016 as per the attached.

Issued in Accra, this 28th day of October, 2016

July 2016

GCB has released its unaudited Financial Statements for the half year ending June 30, 2016 as per the attached.

Issued in Accra, this 26th day of July, 2016.

April 2016

GCB has released its unaudited Financial Statements for the first quarter ending March 31, 2016 as per the attached.

Issued in Accra, this 27th day of April, 2016.

October 2015

GCB has released its unaudited Financial Statements for the third quarter ending September 30, 2015 as per the attached.

Issued in Accra, this 27th day of October, 2015.

April 2015

GCB has released its unaudited Financial Statements for the first quarter ending March 31, 2015 as per the attached.


Issued in Accra, this 29th
day of April, 2015.

March 2015

GCB has released its audited Financial Statements for the year ended December 31, 2014, as per the attached.

attachment 2

Issued in Accra, this 30th day of March, 2015

October 2014

GCB has released its unaudited Financial Statements for the third quarter ending September 30, 2014 as per the attached.

Issued in Accra, this 29th day of October, 2014.

July 2014

GCB has released its unaudited Financial Statements for the half year ending June 30, 2014 as per the attached.


Issued in Accra, this 30th
day of July, 2014

April 2014

Final Dividend
GCB announces that the bank’s Directors will be recommending to the shareholders at the upcoming Annual General Meeting, the payment of a final dividend of GH¢0.21 per share. The bank paid an interim dividend of GH¢0.04 in June 2013, therefore the dividend for the 2013 financial year is GH¢0.25.

Qualifying date
Members registered in the books of GCB at the close of business on Monday, 19th May, 2014 will qualify for the payment of the final dividend.

Closure of Register
The Register of shareholders will be closed from Tuesday, 20th May, 2014 to Thursday, 22nd May, 2014 (both dates inclusive).

Ex-Dividend Date
The ex-dividend date has been set as Friday, 16th May, 2014. Consequently, an investor purchasing GCB shares before this date will be entitled to the final dividend. However, an investor buying GCB shares on or after Friday, 16th May, 2014 will not be entitled to the final dividend.

Dividend Payment Date
The final dividend will be paid on Monday, 30th June, 2014.

Issued in Accra, this 30th
day of April, 2014.

March 2014

GCB has released its audited Financial Statements for the year ended December 31, 2013, as per the attached.


Issued in Accra, this 28th
day of March, 2014

October 2013

GCB has released its un-audited Financial Statements for the third quarter ended September 30, 2013 as per the attached.


Issued in Accra, this 29th
day of October, 2013

July 2013

GCB has released its unaudited half year Financial Statements for the period ended June 30, 2013 as per the attached.


Issued in Accra, this 30th
day of July, 2013

April 2013

GCB has released its unaudited first quarter Financial Statements for the period ending March 31, 2013 as per the attached.


Issued in Accra, this 26th
day of April, 2013

March 2013

GCB has released its audited Financial Statements for the year ended December 31, 2012, as per the attached.


Issued in Accra, this 28th
day of March, 2013

April 2010

GCB has released its un-audited Financial Statements for the half year ending March 31, 2010 as per the attached.


Issued in Accra, this 30th
day of April, 2010


CLICK HERE TO VIEW DETAILS

Market News & Information

January 2014

The Ghana Stock Exchange in 2013 experienced another outstanding performance of listed equities since its establishment in 1990. The GSE Composite Index which measures the performance of the entire market went up by 78.81%, obviously one of the best in Africa. In US dollar ($) terms it was up by 55% second to Malawi in Africa. The exceptional 2013 performance was buoyed largely by increased investor awareness and good operating results of many of the listed companies supported by the renewed investor confidence in the Ghanaian market and economy.
 

August 2009

INTRODUCTION:

The market continued to witness low trading volumes during the first half of 2009.

Aside the global economic crisis, the low activities can also be attributed to the somewhat slow process of immobilization of share certificates into the new depository system. This has to some extent slowed down activities as only shares in the depository are allowed to trade. It is expected that the trend will change when more investors dematerialize their paper certificates and the Ghanaian economic climate improves.

MARKET PERFORMANCE

Index
The GSE All-Share Index recorded a decrease of 48.00% to end the half year of 2009 at 5,423.98points. This is in sharp contrast to the 55.77% gain recorded during the same period in 2008. This means that during the half year to June 2009, the GSE All-Share Index was significantly below the interest equivalent on 91 day Treasury bills of 25.49%.

Turnover
Turnover recorded for the period under review was significantly lower than that for the same period in 2008. The half year to June, 2009 recorded a total volume of 41.47million shares valued at GH¢37.69million compared with a volume and value of 189.08million shares and GH¢196.53m respectively for the same period in 2008.

Active Shares
The ten most actively traded equities for the period January to June, 2009 contributed to total volume and values of trades recorded on the market. In volume terms, GCB continued to lead the pack contributing 28.87% to total volume traded, followed by SCB and CAL with 22.40% and 13.7% respectively. BOPP was fourth with 10.15% while FML, ETI, AYRTN, UNIL, SIC and UT, followed in that order with between 6% and 1% of total volume traded.

In value terms, SCB led the half year with a contribution of 39.33% to total value traded followed by GCB and UNIL with 24.87% and 9.04% respectively. Other companies including CAL, PZ, BOPP, FML, ETI and GGBL contributed between 5.74% and 0.99% to total value traded.

Market Capitalization
Market capitalization at the end of June, 2009 was GH¢15,279.49m (approx. US$10,465.40m) compared with GH¢15,587.76m (approx. US$15,133.74m) at the end of June 2008.

DEPOSITORY

The process of immobilizing share certificates into the GSE Securities Depository system continued to be vigorously pursued by the Exchange. The GSE Securities Depository Company Ltd (GSD) and the Exchange during the period under review consulted and collaborated with stakeholders, particularly Registrars, Dealers and Listed Companies in this regard. It is expected that the evidence of the positive results of the GSE automation will soon be significant as a good number of share certificates are deposited in depository accounts by existing shareholders and new accounts are opened by potential investors.

To facilitate this programme, all listed companies at their respective AGMs passed resolutions as directed by the Exchange to amend their company regulations in order to allow for the conversion of paper certificates into electronic securities. The Exchange and the GSD had the opportunity at these AGMs to speak to shareholders on the benefits of the Depository. So far the top ten with respect to the level of dematerialized securities are:

OUTLOOK

Although the impact of the global financial crisis is being felt in the Ghanaian economy, recent attention on Ghana from the international community as a result of the country’s relatively stable political environment in the sub-region, the visit by the US president, President Barack Obama and Government’s effort aimed at greater economic stability are indications that opportunities still abound for wealth creation and stability augurs well for both existing and potential investors on the stock market. Analysts also believe that the Exchange’s performance in this first half of the year presents an opportunity for stock market investments as shares are relatively cheaper at current prices.

May 2009

The stock market performance during the first quarter ending March 31, 2009 was not much different from the downward trend on most global capital markets. There were generally, low market activity characterized by low demands and large offers for listed securities resulting in a downward pressure on share prices.

Statistics