GCB Bank pays GH¢18m dividend to govt

GCB Bank Limited has presented GH¢18,114,756.16 to the government as dividend for 2014.

The amount represents an increase on 2011, 2012 and 2013 figures when the bank paid dividend of GH¢3.65 million, GH¢7.29 million and GH¢13.97 million, respectively.

A Deputy Minister of Finance, Mr Cassiel Ato Forson, who received the cheque for the amount from the acting Managing Director of GCB Bank, Mr Samuel Sarpong, described the growth in GCB’s dividend payment to the government as great.

He congratulated the bank and urged other companies with government equity to emulate GCB’s example.

He advised the management of the bank to consider the possibility of paying interim dividend to the state, instead of the current practice of paying final dividend.

Mr Sarpong said in addition to dividend payment, GCB was a large payer of tax and in 2014 paid over GH¢112 million in taxes.

The acting managing director disclosed that the bank had given out GH¢1.3 billion as loans to salaried workers and other customers in the past three years.

Present at the presentation were the Head of the Corporate Banking Department of GCB Bank, Mr George Fuachie, and the Financial Controller of GCB, Mr Kwasi Osei Bobie.