GCB Bank eyes cross-border takeover as profits soar and dividend returns
GCB Bank PLC is pushing ahead with plans to acquire one of Liberia’s largest banks, in a strategic move aimed at transforming the indigenous lender into a regional financial powerhouse.
The bank’s Board Chairman, Joshua Alabi, disclosed that negotiations are underway to take over the third-largest bank in Liberia, describing the initiative as a significant step in the bank’s cross-border expansion agenda.
Speaking to pressmen on the sidelines of the bank’s 32nd Annual General Meeting, Prof. Alabi said the move had been in the pipeline since late 2025, as GCB seeks to respond to intensifying competition within Ghana’s banking sector, particularly from foreign-owned institutions.
“Now, you said it rightly, foreign banks are coming to Ghana. And what are we doing? I must say, we are also thinking the same… Except that we’ve not announced it because it’s in the pipeline,” he said.
He revealed that a high-level delegation led by the bank’s leadership had already engaged key stakeholders in Liberia, including the central bank governor, senior investment officials and the country’s president, as part of efforts to secure regulatory and political backing for the deal.
“We met with the governor of their central bank… the chairman of their investment fiduciary council… and the president of Liberia to show an interest in moving into the Liberian market. As you see today, we are on the negotiating table, and I pray that that will yield results,” he added.
Beyond Liberia, the bank is also exploring expansion opportunities in other West African markets, including The Gambia and Burkina Faso, as it seeks to diversify its operations and reduce reliance on the domestic market.
“If people come into our country to compete with us, we equally have to chase them in their country… We can’t continue to be a local champion. We must move out,” Prof. Alabi stated.
The expansion drive comes as GCB reported strong financial performance for the 2025 financial year, alongside renewed shareholder returns after regulatory approval to resume dividend payments.
The bank announced a final dividend of GH₵1.00 per share following approval from the Bank of Ghana, reversing the previous year’s setback when the proposed payout was declined by the regulator.
“Last year, the regulatory authorities did not approve our proposed dividend. This was disappointing, not only for you, our valued shareholders, but also for us as directors,” Prof. Alabi said. “Your concerns are our concerns, and your satisfaction remains our priority.”
He added: “I am delighted to announce that the Bank of Ghana has granted approval for the payment of dividends for the 2025 financial year. Accordingly, a final dividend of GH₵1.00 per share has been proposed.”
The bank’s Managing Director, Farihan Alhassan, reported robust growth across key indicators, with operating profit rising by 67.4 per cent to GH₵3.17 billion and operating income increasing by 40.9 per cent to GH₵6.3 billion.
“The Group posted a 67.4% year-on-year growth in operating profit… while operating income grew by 40.9% year-on-year… and the growth was broad-based,” he said.
Total assets expanded by 23 per cent to GH₵52.6 billion, supported by a 19.7 per cent increase in deposits to GH₵41.3 billion, while loans grew sharply by 56.8 per cent.
Asset quality also improved significantly, with the non-performing loan ratio declining to 10.3 per cent from 15.1 per cent in 2024.
“The improvement reflects better underwriting discipline, stronger portfolio monitoring and improved loan recoveries,” Mr Alhassan noted.
The bank’s performance translated into increased shareholder value, with return on equity reaching 39 per cent and earnings per share standing at GH₵7.78. Its share price also surged from GH₵6.37 in 2024 to GH₵20.11 by the end of 2025.
Despite the gains, management indicated that the stock remains undervalued relative to its book value, suggesting further upside potential as the bank consolidates its growth strategy.