The Finance Ministry has commended GCB Bank for consistent and steady increase in dividend payment to government and other shareholders despite the Covid-19 challenges.

This follows ¢14.5 million dividend paid by the bank to the government in respect of the 2020 financial year, amid Covd-19.

According to a Deputy Minister of Finance, John Kumah who received the cheque on behalf of government, other State Owned Enterprises, Joint Venture Companies should emulate GCB Bank.

“I will like to take this opportunity to urge all SOEs, JVCs and mining companies that have declared dividend to make due their responsibility to government and its shareholders”

He said GCB Bank has shown consistency in growth despite the slowdown in economy growth.

“Let me commend the board, management and staff of GCB Bank Limited for all these impressive gains despite slow economic growth being experience in the global environment as a result of Covid-19.”

He assured the board and management of the bank of government’s continuous support, urging them to sustain and improve on this performance.

GCB Bank has since 2017 paid a total of ¢69.62 million as dividend to government.

Managing Director of GCB Bank, Kofi Adomakoh for his part said despite the challenging year in 2020, GCB always led the path by providing support for the economy and all Ghanaians.

He added that the bank will continue to support the economy by providing support to businesses to recover, post covid-19.

GCB Bank increased its pre-tax in 2020 by 6.48% to ¢611 million. The bank’s total income grew by 25% to ¢1.96 billion despite the Covid-19 pandemic and associated impact on business and the economy in general