GCB bank targets Liberia takeover as profits surge, dividends return

GCB Bank PLC is pursuing the acquisition of one of Liberia’s largest banks as part of a strategic push to become a regional financial powerhouse, its board chairman has announced.

Speaking at the bank’s 32nd Annual General Meeting, Board Chairman Professor Joshua Alabi revealed that negotiations are ongoing to take over Liberia’s third-largest bank. He said the move, which has been in development since late 2025, is a direct response to intensifying competition from foreign-owned banks entering the Ghanaian market.

“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,” Prof. Alabi told reporters. “We can’t continue to be a local champion. We must move out.”

A high-level GCB delegation has already held talks with Liberia’s central bank governor, senior investment officials, and the country’s president to secure regulatory and political backing for the deal.

Beyond Liberia, the bank is also exploring expansion into The Gambia and Burkina Faso as part of a wider strategy to diversify its operations and reduce reliance on the domestic market.

Dividend return on strong financials

The expansion drive comes as GCB reported robust financial results for the 2025 financial year, alongside renewed shareholder returns after the Bank of Ghana approved the resumption of dividend payments.

The bank has proposed a final dividend of GH₵1.00 per share – reversing the previous year’s setback when the regulator declined a proposed payout.

Managing Director Farihan Alhassan reported a 67.4% rise in operating profit to GH₵3.17 billion, with operating income up 40.9% to GH₵6.3 billion. Total assets grew 23% to GH₵52.6 billion, supported by a 19.7% increase in deposits to GH₵41.3 billion. Loans expanded sharply by 56.8%.

Asset quality also improved significantly, with the non-performing loan ratio falling to 10.3% from 15.1% in 2024.

Return on equity reached 39%, with earnings per share of GH₵7.78. GCB’s share price surged from GH₵6.37 in 2024 to GH₵20.11 by the end of 2025. Management noted the stock remains undervalued relative to its book value, suggesting further upside potential.