GCB Bank Limited has presented a dividend of GH¢18,114,756.16 to the Government of Ghana as dividend for 2014.
This represents an astronomical 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.
Mr Cassiel Ato Forson, a Deputy Minister for Finance who received the cheque from the Acting Managing Director of GCB Bank, Mr Samuel Sarpong, described the growth in GCB’s dividend payment to government as “quiet great.”
The Deputy Minister congratulated GCB and urged other joint venture companies with government equity to emulate the GCB 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. Samuel Sarpong said in addition to dividend payment GCB is a large payer of tax and in 2014 paid over GH¢112 million in taxes.
The acting Managing Director disclosed that the Bank has given out GH¢1.3 billion as loans to salaried workers and other customers in the past three years.
Present at the cheque presentation were Mr George Fuachie, Head of Corporate Banking Department and Mr Kwasi Osei Bobie, Financial Controller of GCB.
Credit: myjoyonline