GCB to introduce Master and Visa cards soon

Accra, March. 28, GNA- Mr Lawrence N. Adu-Mante, Managing Director of Ghana Commercial Bank (GCB), on Friday, told shareholders that the Bank had acquired a legal certificate to enable it to operate Master Card later this year.

He said the card would be introduced soon and would be followed by GCB Visa card, both of which would enable customers to access their money wherever they are in the world. "Our master and visa cards will not limit our customers to this country alone. They will allow customers to have access to their money in other currencies anywhere in the world," he said. Mr Adu-Mante made the announcement amidst applause at the Bank's Annual General Meeting (AGM). He was answering a question as to why GCB Automated Teller Machine (ATM) cards restricted customers to only GCB ATMs.

The questioner, a shareholder, noted that other ATM cards from other banks with the Visa Electron service enabled card holders to access their money from any ATM labelled VISA or VISA Electron. Mr Adu-Mante said in addition to Master and Visa cards, GCB was also part of the initial group of companies that would start the Bank of Ghana's E-zwich card, which would also enable customers to access their money everywhere in Ghana, including shops.

He said the Bank was also in the process of extending ATM services to some of the deprived communities in the country, including parts of Northern Ghana and Eastern Region, adding that, feasibility studies was also underway to build new branches in Koforidua and some other towns. Some shareholders called on the board to bring new branches to communities such as Dansoman and Tamale. Others called on the bank to establish a brokerage department and also to give loans to shareholders without demanding collateral and guarantors from them.

The AGM was also characterised by some drama with shareholders usually clashing in efforts to second motions. A shareholder sitting comfortably in the front role, to ensure that the panel on the head table saw him, voted against every single motion, to the amusement of other shareholders. Another shareholder queried why the bank made a donation to the Ghana@50 secretariat, when that money could have been used to augment shareholders' dividends.