GCB Bank Targets Dominance in Ghana’s Banking Sector, Pledges Prudent Cost Management at 31st AGM
GCB Bank has reaffirmed its commitment to shareholder value creation, prudent cost management, and strategic sectoral support as it positions itself to become the dominant financial institution in the country.
Speaking at the bank’s 31st Annual General Meeting (AGM) on Friday, May 2, 2025, the Managing Director of GCB Bank, Farihan Alhassan, acknowledged shareholder concerns about the bank’s cost structure but assured that internal mechanisms were being implemented to address the issue.
“There are concerns around our cost, which we are aware of, and are dealing with that internally,” Mr. Alhassan stated, adding that a dedicated committee had been established to vet all expenditures and ensure alignment with generated revenue.
“It is only when we do that [cost control] that we can bring down the cost of the business to focus a lot more on sales,” he added.
The MD also highlighted GCB’s strategic alignment with key sectors of the economy, including agribusiness, mining, and manufacturing, noting that such focus areas are already yielding positive results for the bank.
“We are supporting clients in agribusiness, mining, and manufacturing while also putting in measures to be the dominant bank in the country. Once we are the dominant bank, it means we make more money and when we make more money, it translates into more returns on investments that [shareholders] have,” Mr. Alhassan said.
Echoing the MD’s remarks, the Board Chairman of GCB Bank, Professor Joshua Alabi, expressed optimism about the bank’s prospects and reiterated the board’s commitment to enhancing shareholder value.
“Our major concern is the shareholders and how to make them enjoy the investments they are making,” said Prof. Alabi.
He further disclosed that both the board and management would intensify efforts to improve the bank’s operational performance, stressing the importance of making GCB a source of national pride.
“This is the nation’s number one bank, it is a bank for Ghanaians. This bank must work very well for the people of this country. The people must be proud of this bank,” he affirmed.
With a sharpened focus on cost efficiency and strategic growth, GCB Bank looks set to take over the leadership position in the Ghanaian banking landscape, with management and the Board united in driving value for shareholders and national development.
