Ghana Commercial Bank Limited has changed its name to GCB Bank PLC per resolution signed by shareholders of the bank.
The shareholders agreed to the name change after passing a resolution at the bank’s 25th Annual General Meeting (AGM) in Accra and subsequent publication of the new name in the Commercial and Industrial Bulletin No 48 on page 406.
The change of name is part of re-branding moves being embarked by the bank to make it a world class one.
A statement from the bank issued on Thursday, January 6, 2022 explained that “The change was mandated by the coming to force of the Companies Act, 2019 (Act 992) section 21 (b) which directs the last words of the corporate name of public companies limited by shares to be Public Liability Company or the abbreviation PLC.
“The corporate name is therefore GCB Bank PLC, and as such going forward the Bank shall be referred to as GCB Bank PLC in all future publications and contracts with third party providers.
“However, by section 21 (14) of Act 992, the change in name shall not affect the rights or obligations of the company or render defective legal proceedings by or against the company. Hence, for existing agreements and contracts that bear the Bank’s old name, their validity will not be affected by the use of the Bank’s new name.”
It is however, not clear when the bank will be rebranding publicly to effect the change.
By Vincent Kubi