GCB Bank Ltd, Ghana’s leading commercial bank, has granted a two month moratorium on loans, while also reducing interest rates from 26 to 24%. This decision, according to the bank is to reduce some of the hardships brought about by the effects of the COVID-19 pandemic.
In a statement issued by the Bank, The Managing Director of GCB Bank, Anselm Ray Sowah, stated that “as Ghana’s largest indigenous Bank, we have the mandate to seek the interest and well-being of Ghanaians and to be at the forefront of Ghana’s socio-economic drive”.
“The reduction in interest rates and the moratorium granted are thus a reflection of the Bank’s tireless commitment in helping to positively impact the lives of Ghanaians especially in these trying times,” he added.
GCB Bank, which recently celebrated its 67th anniversary, has been at the forefront of the Covid-19 fight and was the first bank to make a donation to the COVID-19 National Response Team through the Ministry of Health.
GCB has also provided personal protective Equipment (PPEs) and water storage tanks to selected Metropolitan/Municipal/District Assemblies, market centres and health facilities around the country.