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    GCB   GH0000000094

GCB BANK PLC

(GCB)
  Report
End-of-day quote Ghana Stock Exchange  -  2022-09-22
3.700 GHS    0.00%
07/27GCB Bank Plc Reports Earnings Results for the Half Year Ended June 30, 2022
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GCB Bank : Grants Moratorium, Reduces Interest On Personal Loan

06/25/2020 | 09:08am EDT

GCB Bank has reduced interest rates on personal loans from 26 per cent to 24 per cent per annum with immediate effect.

The bank has also granted a two-month moratorium on both the principal and interest repayment on personal loans.

The measures form part of extensive efforts by the bank to lessen the impact of COVID-19 on customers and Ghanaians in general.

The Managing Director of GCB Bank, Anselm Ray Sowah, stated that "as Ghana's largest indigenous bank, we have the mandate to seek the interest and wellbeing of Ghanaians and to be at the forefront of Ghana's socio-economic drive".

"The reduction in interest rates and the moratorium granted are thus a reflection of the bank's tireless commitment in helping to positively impact the lives of Ghanaians especially in these trying times," he added.

Commenting on the initiative, Head of Consumer Banking of GCB Bank, Mr John Adamah, stated that the bank is conscious of the hardships the Corona virus is inflicting on Ghanaians through low productivity, job and salary cuts, culminating in reduced household income, adding that this is a direct intervention aimed at helping individuals to meet pressing personal needs.

GCB Bank, which recently celebrated its 67th anniversary, has been at the forefront of the Covid-19 fight and was the first bank to make a donation to the Covid-19 National Response Team through the Ministry of Health.

Over the three few months, the bank has made donations to the Ministry of Sanitation and Water Resources, Ministry of Local Government and Rural Development, the Judiciary and also provided lunch to 650 frontline health workers for almost two months, amongst others to help the country in the battle against Covid-19.

GCB has also provided personal protective equipments (PPEs) and water storage tanks to selected metropolitan/municipal/district assemblies, market centres and health facilities around the country.

Copyright Ghanaian Times. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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Financials
Sales 2022 2 803 M 280 M 280 M
Net income 2022 779 M 77,9 M 77,9 M
Net Debt 2022 - - -
P/E ratio 2022 1,26x
Yield 2022 18,4%
Capitalization 981 M 98,0 M 98,0 M
Capi. / Sales 2022 0,35x
Capi. / Sales 2023 0,30x
Nbr of Employees 2 316
Free-Float 32,4%
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Mean consensus OUTPERFORM
Number of Analysts 3
Last Close Price 3,70 GHS
Average target price 5,90 GHS
Spread / Average Target 59,5%
EPS Revisions
Managers and Directors
John Kofi Adomakoh Chief Executive Officer, MD & Director
Socrates Afram Director & Deputy Managing Director-Finance
Jude Kofi Arthur Chairman
Abel Lomotey Daitey Chief Information Officer
Emmanuel Odartey Lamptey Director & Deputy Managing Director-Operations
Sector and Competitors