GCB Bank Limited has been named by Global Finance as the Safest Bank in Ghana.
Out of the over 30 banks in the country, only GCB was mentioned in the release which also identified safest commercial and emerging markets among others.
The banks were selected through an evaluation of long-term foreign currency ratings—from Moody’s, Standard & Poor’s and Fitch—and total assets of the 1000 largest banks worldwide.
Takeover of UT and Capital Bank
GCB in August this year assumed the businesses of UT and Capital banks following their liquidation by the Bank of Ghana.
The acquisition of the two banks strengthens GCB’s position as Ghana’s largest bank by all standards.
Global Finance Publisher and Editorial Director Joseph D. Giarraputo, says “despite efforts to harmonise financial rules across regions and around the world, regulations remain unique to each country, due to its particular risks and resources. Especially for banks operating across borders, the challenge is to respond to those individual situations while offering a consistent experience for the corporate clients that also operate in a number of different jurisdictions.”