GCB Bank Limited, a leading commercial bank in Ghana has presented a cheque for GH¢18,114,756.16 to the government as dividend for 2014.
This represents a significant increase from 2011, 2012 and 2013 when the bank paid dividend of GH¢3.65 million, GH¢7.2 9 million and GH¢13.97 million respectively.
Cassiel Ato Forson, a Deputy Minister of Finance who received the cheque from the Acting Managing Director of GCB Bank, Samuel Sarpong, described the growth in GCB’s dividend payment to government as impressive.
While commending GCB Bank for its effort, the Deputy Minister called on other joint venture companies with government equity to emulate the shining example of the bank.
He encouraged the bank to consider the possibility of paying interim dividend to the government instead of the current practice of only paying final dividend.
Mr. Samuel Sarpong said in addition to dividend payment, GCB was a large payer of tax, stating that, in 2014 the bank paid over GH¢112 million in taxes.
He disclosed that GCB, in the past three years, had given out GH¢1.3 billion as loans to salaried workers and other clients.
Present at the presentation were George Fuachie, Head of Corporate Banking Department and Kwasi Osei Bobie, Financial Controller of GCB.
By Baaba Crentsil