Ghana Commercial Bank lays off over 200 workers

Negotiations between workers of GCB and management over moves by the bank to lay off hundreds of workers is close to completion.
Persons familiar with the matter have told Citi Business News the negotiations, which largely centre around the exit packages to be given to workers, who will be affected by the layoff are likely to end by next month.

The bank in May 2015 confirmed to Citi Business News that between three and five hundred of its workers will be laid off as part of a restructuring exercise to make the bank competitive.
GCB Bank in 2014 recorded strong financial performance, consolidating its position as one of the top performing banks in the country.
Its profit before tax shot up to 382,436 million cedis for 2014 from the 311,233 million cedis it recorded in 2013.
Its profit after tax was 270,057 million cedis for 2014 from the 223,508 million cedis it recorded in 2013. Deposits of customers increased from the 2,630,283 billion cedis recorded in 2013 to 3,078,071 billion cedis recorded in 2014.

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