Indigenous bank, GCB Bank, says it will find innovative ways to keep customers on digital channels despite the expected implementation of the Electronic Transaction levy (E-levy) from May 1st, 2022.
According to the leading bank, it will introduce innovative products that will attract customers to stay on the G-Money platform as well as other digital channels for business transactions.
Speaking to Joy Business after presenting the 2021 year performance of the bank during the Ghana Stock Exchange “Facts Behind the Figures” programme, Deputy Managing Director in charge of Finance, Socrates Affram said that the growth recorded on the digital platform will be sustained for some time due to its low level of charges.
He however noted that, although the platform may experience a marginal slowdown in transaction for the short term as a result of the E-levy, it will pick up strongly later and continue its dominance.
“We have already experienced some massive gains on the G-Money and as you will notice in our explanation, we believe that the growth will continue especially with the introduction of another industry payment platform which GCB is part of.”
“We as GCB will bring more innovative products onto the G-Money for our customers and any other person that may want to use our platform. We shall continue to invest heavily intechnology and expansion through other digital means” he said.
The bank recorded a robust balance sheet growth on the back of high quality customer deposits. Total assets grew by 18.3% to 18.3 billion in 2021, whilst profit before tax also grew year-on-year by 34% to 810m in 2021.