Established 53 years ago, Ghana Commercial Bank Ltd (GCB) is the biggest bank in Ghana with a total assets of over ¢5.6 trillion. The bank’s operations cover the length and breadth of the country with 133 branches. Over 50% of his branches are on the wide area network (WAN), serving about 80% of the economic regions of Ghana. In the face of increasing competition, the bank is leveraging its investment in technology to improve its service platform to stay ahead of competition. For example it is expanding its branch network across the country and will be about 90 by the end of 2005.
Traditionally, GCB is the leading player in national petroleum import financing. To sustain its commitment to supporting the nation’s export drive, it is the Key player in cocoa and non-traditional export financing, in addition to supporting the restructuring of the timber industry. It leads the industry with a total loan portfolio of ¢2.09 trillion with the export and related sectors accounting for more than 30%.
Our values and vision commit us to a service culture in which we demonstrate our ability to provide innovative and affordable solutions (notably to the SME, corporate and individual segments). GCB has a strong brand identity. Our corporate image symbolizes our belief in customer empowerment. The diverse products and services we offer through improved technology afford empowerment to our customers and shareholders to build equity, financial security and a brighter future. We operate under a defined set of values that we term 3Ps: partnership, professionalism and profit.
Commitment to SMEs
The SME sector account for about 92% of business in Ghana. Recognizing the importance of SMEs to national development, the bank’s focus is to help grow micro and small business into medium sized firms. It provides avenues for financial support in the form of tailored loans and other customized products. Many SMEs are in the hinterlands where only GCB’s wide spread can reach, and its support is particularly critical in these areas. Among the relevant product lines is the group treasury service that mobilizes deposits to take banking to the doorstep of the customers.
GCB’s experience in serving the SMEs dates back to the 1980s and its current capabilities fit well with the uniqueness of the Ghanaian SME market. It provides a wide range of products/services, which span business star-ups, support, growth capital, business recoveries and business advisory services.
Competitive edge
Being the pace-setters in product innovation, GCB has pioneered its supply-chain financing (SCF) product in Ghana to replace the generic working capital finance in the financing services sector. A competitive edge on the market has been created as a result of the combined effect of the SCF and the e-banking offering. The bank’s share of the SME market is expected to grow at 45% annually from 2005-2008 through this business solution proposition. The bank has been able to customize the SCF to reflect one of its core values of partnership through its strategic architecture; thereby developing a closer relationship between itself, the retail, SME and corporate segments.
The bank’s business mantra is shareholder value maximization and customer empowerment. The action and faces of our people reflect the passion with which we render our services. This is a reflection of management’s commitment to world-class service and technological development.
