After months of disquiet, the staff and customers of GCB Bank alike, will soon be heaving a sigh of relief as they welcome their new Managing Director.
This appointment comes subsequent to the retirement of the former Managing Director, Simon Donoo.
Sources close to the GCB Board revealed that, after going through the normal, but rigorous recruitment process, Ernest Mawuli Agbesi, was eventually settled on as the best candidate for the job.
Insiders further indicated that, in coming to this decision, the Board, was particularly guided by the successes of Mr. Agbesi at the National Investment Bank (NIB).
Mr. Agbesi was brought to NIB in 2014, as the Managing Director. It cannot be gainsaid that, through hard work, commitment, dexterity and singleness of purpose, he together with his team transformed the fortunes of the state bank. Within a space of two years after his appointment, NIB witnessed huge leap in its deposits which had risen to GH¢1,782million by the end of 2015, representing over 130 percent.
Mr. Agbesi together with his management, also worked very hard to improve the profit position of the state bank, so that its profit rose from GHS 38 million in 2013 to GH¢120million in 2015.
This improvement in profit, also saw shareholders smile, as shareholder funds increased from GH¢285 in 2013 to GH¢591 in 2015.
Whereupon, total dividends of GH¢9.9 million were for the first time in twelve years, paid to shareholders in 2015. And projections are that, more dividends will be paid by the end of 2016.
It is significant to note that, about 97 percent of the dividends paid, accrued to the government of Ghana. The economic intuition then is that, government’s revenue enjoyed a huge boost by reason of the dedication and hard work of Mr. Agbesi and the management team of the National Investment Bank.
More so, through the instrumentality of Mr. Agbesi and his team, NIB, increased its branches from twenty eight in 2013 to thirty nine in 2015, and as of today, the number has reached forty two.
In addition to this incredible expansion, the Bank, also undertook massive refurbishment of all existing branches. The refurbished branches coupled with excellent customer service made and continue to make NIB the ideal destination for banking in Ghana.
Meanwhile, the soon to be outdoored MD of GCB Bank, had prior to heading NIB, worked at various senior level positions in reputable banks such as Unibank, International Commercial Bank, among others.
Indeed, he comes to GCB with a wealth of experience in banking that can turn the fortunes of the state bank around.