GCB makes over GHc1 billion profits in 2023

GCB Bank PLC has announced a significant profit of over GHS 1 billion for 2023, recovering from a loss of GHS 743.5 million the previous year.

The bank saw a 26% increase in total revenue, reaching GHS 3.78 billion, and a 37% growth in net interest income.

Total assets rose by 26% to GHS 27.2 billion, with customer deposits increasing by 23% to GHS 21.8 billion.

Managing Director Kofi Adomakoh attributed this turnaround to effective cost management, staff training, and a focus on customer needs. He also assured shareholders of a forthcoming review of dividend payments.