GCB Bank Limited goes international after entering into partnership with the largest Bank in Morocco, Attijariwafa Bank group (AWB). The initiative was agreed upon by the two banks in order to expand and strengthen the financial transaction system in Ghana, the ECOWAS and beyond.
The two banks, in the terms of the agreement will operate as correspondent banks to facilitate trade finance as well as strengthening capital markets and jointly organize business missions to enhance trade and investment between the two countries.
Aside this, the other grounds for exploration between the two giant banks also includes retail banking, insurance, consumer finance, corporate and investment banking.
The AWB customers under the partnership in mainly Francophone countries will engage in businesses in Ghana, using GCB bank for transacting banking businesses while GCB customers in Ghana also use the bank as platforms and channels.
This process is aimed at providing convenience for customers of GCB and AWB in both Anglophone and Francophone countries.
GCB is currently Ghana’s largest Bank with over 200 networked branches, 20 Agencies and 280 ATMs.
AWB like GCB is the largest financial institution in the Kingdom of Morocco by assets and ranks the sixth largest bank in Africa by asset size.
While GCB is listed on the Ghana Stock Exchange and a higher performer and stock, AWB is listed on the Casablanca Stock Exchange with a market capitalization of $7.2 billion.
AWB operates in 14 countries in the North, West and Central Africa with a representative office in Paris, France.
It has 3,122 branches across Morocco and 3,844 branches across the globe.