GCB Bank unable to pay dividend to shareholders due to regulatory issues
GCB Bank PLC has announced that it is unable to proceed with the payment of dividends to shareholders for the financial year ended December 31, 2024, due to regulatory issues.
The bank cited non-compliance with the single obligor limit arising from the conversion of restructured cocoa bills into bonds, which has resulted in the Bank of Ghana withholding its “no objection” for the dividend payment.
In a statement, GCB Bank said it is actively engaging with the regulator to resolve the matter as quickly as possible and restore full compliance.
The bank expressed regret over the development and assured shareholders and stakeholders of its commitment to regulatory compliance, financial soundness, and protecting shareholder value.
The dividend payment had been approved at the bank’s Annual General Meeting held on May 2, 2025. GCB Bank’s efforts are now focused on resolving the issue and ensuring compliance with regulatory requirements.
