Reported Earnings • Jul 26
Second quarter 2026 earnings released Second quarter 2026 results: Revenue: GH₵1.84b (up 22% from 2Q 2025). Net income: GH₵643.0m (up 28% from 2Q 2025). Profit margin: 35% (up from 33% in 2Q 2025). The increase in margin was driven by higher revenue. Price Target Changed • Jun 25
Price target increased by 764% to GH₵54.06 Up from GH₵6.26, the current price target is an average from 2 analysts. New target price is 45% above last closing price of GH₵37.41. Stock is up 274% over the past year. The company posted earnings per share of GH₵7.78 last year. Price Target Changed • May 20
Price target increased by 764% to GH₵54.06 Up from GH₵6.26, the current price target is an average from 2 analysts. New target price is 46% above last closing price of GH₵36.99. Stock is up 383% over the past year. The company posted earnings per share of GH₵7.78 last year. Board Change • May 20
Less than half of directors are independent There are 11 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 11 new directors. No experienced directors. 1 highly experienced director. 4 independent directors (8 non-independent directors). Chief Finance Officer & Executive Director Socrates Afram is the most experienced director on the board, commencing their role in 2016. Independent Non-Executive Director Alexander Awine was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Mar 19
GCB Bank Plc, Annual General Meeting, Apr 17, 2026 GCB Bank Plc, Annual General Meeting, Apr 17, 2026. Location: university of professional studies, accra (upsa) auditorium, Ghana Announcement • Feb 27
GCB Bank Plc Announces Resignation of Non-Executive Directors GCB Bank Plc announced for the information of the general investing public the resignation of the following Non-Executive Directors, Mr. Osman Ayuba and Alhaji Alhassan Yakubu from the Board of the Bank. Their resignation took effect from February 25, 2025. Reported Earnings • Oct 29
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: GH₵921.8m (up 21% from 3Q 2023). Net income: GH₵180.4m (down 15% from 3Q 2023). Profit margin: 20% (down from 28% in 3Q 2023). The decrease in margin was driven by higher expenses. Reported Earnings • Jul 31
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: GH₵870.4m (up 32% from 2Q 2023). Net income: GH₵177.0m (up 27% from 2Q 2023). Profit margin: 20% (in line with 2Q 2023). Announcement • Jun 08
GCB Bank Plc, Annual General Meeting, Jun 27, 2024 GCB Bank Plc, Annual General Meeting, Jun 27, 2024. Location: grand arena of the accra international conference, centre, Ghana Buy Or Sell Opportunity • Jun 03
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 39% to GH₵4.72. The fair value is estimated to be GH₵3.93, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Reported Earnings • Mar 13
Full year 2023 earnings released: EPS: GH₵3.81 (vs GH₵2.24 loss in FY 2022) Full year 2023 results: EPS: GH₵3.81 (up from GH₵2.24 loss in FY 2022). Revenue: GH₵3.35b (up 272% from FY 2022). Net income: GH₵1.01b (up GH₵1.60b from FY 2022). Profit margin: 30% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. New Risk • Jun 12
New major risk - Revenue and earnings growth Earnings have declined by 7.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 7.1% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (GH₵834.8m market cap, or US$76.6m). Price Target Changed • Mar 02
Price target decreased by 21% to GH₵4.96 Down from GH₵6.26, the current price target is provided by 1 analyst. New target price is 57% above last closing price of GH₵3.15. Stock is down 39% over the past year. The company posted earnings per share of GH₵2.16 last year. Board Change • Jan 22
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Non-Executive Director Francis Arthur-Collins was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 30
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: GH₵658.2m (up 23% from 3Q 2021). Net income: GH₵150.3m (up 21% from 3Q 2021). Profit margin: 23% (in line with 3Q 2021). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Banks industry in Ghana. Major Estimate Revision • Aug 03
Consensus EPS estimates increase by 15% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from GH₵2.74b to GH₵2.80b. EPS estimate increased from GH₵2.55 to GH₵2.94 per share. Net income forecast to grow 30% next year vs 16% growth forecast for Banks industry in Africa. Consensus price target of GH₵5.90 unchanged from last update. Share price was steady at GH₵5.00 over the past week. Reported Earnings • Jul 28
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: GH₵626.8m (up 30% from 2Q 2021). Net income: GH₵158.5m (up 59% from 2Q 2021). Profit margin: 25% (up from 21% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 27%, compared to a 26% growth forecast for the industry in Africa. Reported Earnings • May 01
First quarter 2022 earnings: Revenues exceed analyst expectations First quarter 2022 results: Revenue: GH₵596.9m (up 22% from 1Q 2021). Net income: GH₵154.3m (up 13% from 1Q 2021). Profit margin: 26% (down from 28% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.8%. Over the next year, revenue is forecast to grow 34%, compared to a 28% growth forecast for the industry in Africa. Announcement • Mar 10
GCB Bank Limited Announces Executive Appointments GCB Bank Limited announced the appointment of Mr. Daniel Kweku Tweneboah Asirifi as a Non-Executive Director of the Board of the Bank effective February 24, 2022. Company announced the appointment of Hon. Dr. Stephen Amoah as a Non-Executive Director of the Board of the Bank effective February 24, 2022. Company announced the appointment of Mr. Samuel Kwame Yedu Aidoo as Executive Director, wholesale and Investment Banking effective 24th February 2022. Reported Earnings • Mar 06
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: GH₵2.16 (up from GH₵1.68 in FY 2020). Revenue: GH₵2.10b (up 20% from FY 2020). Net income: GH₵572.3m (up 28% from FY 2020). Profit margin: 27% (up from 26% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 19%, compared to a 21% growth forecast for the banks industry in Africa. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 23
Third quarter 2021 earnings released The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: GH₵536.5m (up 22% from 3Q 2020). Net income: GH₵124.6m (up 24% from 3Q 2020). Profit margin: 23% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Price Target Changed • Jul 26
Price target decreased to GH₵5.76 Down from GH₵6.28, the current price target is an average from 2 analysts. New target price is 6.7% above last closing price of GH₵5.40. Stock is up 42% over the past year. Reported Earnings • Jul 25
Second quarter 2021 earnings released The company reported a soft second quarter result with weaker earnings and revenues, although control over costs improved. Second quarter 2021 results: Revenue: -GH₵489.1m (down 213% from 2Q 2020). Net loss: GH₵136.2m (down 245% from profit in 2Q 2020). Profit margin: 28% (up from 22% in 2Q 2020). The increase in margin was driven by lower revenue. Upcoming Dividend • May 12
Upcoming dividend of GH₵0.23 per share Eligible shareholders must have bought the stock before 19 May 2021. Payment date: 18 June 2021. Trailing yield: 5.1%. Lower than top quartile of Ghanaian dividend payers (7.3%). Higher than average of industry peers (3.6%). Announcement • May 05
GCB Bank Limited Recommends Final Dividend for the Financial Year 2020 , Payable on June 18, 2021 GCB Bank Limited announced that the Company’s Directors will be recommending to the shareholders at the upcoming Annual General Meeting, the payment of a final dividend of GHS 0.25 per share for the 2020 financial year. Qualifying date All shareholders registered in the books of GCB at the close of business on May 21, 2021 will qualify for the final dividend. The Register of shareholders will be closed from 24th May, 2021 to May 28, 2021 (both date inclusive). In view of the foregoing, the ex-dividend date has been set as 19 May, 2021. Consequently, an investor purchasing GCB shares before this date will be entitled to the final dividend. However, an investor buying GCB shares on or after 19th May, 2021 will not be entitled to the final dividend. The final dividend will be paid on June 18, 2021. Reported Earnings • May 01
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: GH₵490.1m (up 19% from 1Q 2020). Net income: GH₵136.4m (up 46% from 1Q 2020). Profit margin: 28% (up from 23% in 1Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS GH₵1.68 (vs GH₵1.62 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: GH₵1.75b (up 17% from FY 2019). Net income: GH₵445.4m (up 4.0% from FY 2019). Profit margin: 26% (down from 29% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Jan 24
GCB Bank Limited Appoints Mr. Emmanuel Odamptey Lamptey as Deputy Managing Director of Operations and Member of the Board GCB Bank Limited announced the appointment of Mr. Emmanuel Odamptey Lamptey as Deputy Managing Director of Operations and a member of the Board effective 20th January, 2021. Is New 90 Day High Low • Dec 17
New 90-day high: GH₵4.00 The company is up 8.0% from its price of GH₵3.70 on 18 September 2020. The Ghanaian market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Banks industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is GH₵7.02 per share. Is New 90 Day High Low • Nov 24
New 90-day high: GH₵3.86 The company is up 2.0% from its price of GH₵3.80 on 26 August 2020. The Ghanaian market is down 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Banks industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is GH₵5.98 per share. Price Target Changed • Nov 11
Price target lowered to GH₵5.36 Down from GH₵5.85, the current price target is an average from 2 analysts. The new target price is 39% above the current share price of GH₵3.85. As of last close, the stock is down 21% over the past year. Announcement • Nov 07
Ghana Commercial Bank Limited Announces Mr. John Kofi Adomakoh as the Managing Director of the Bank Effective 9 November 2020 Ghana Commercial Bank Limited announced the appointment of Mr. John Kofi Adomakoh as the Managing Director of the Bank effective 9th November 2020. Reported Earnings • Oct 31
Third quarter earnings released Over the last 12 months the company has reported total profits of GH₵487.9m, up 23% from the prior year. Total revenue was GH₵1.73b over the last 12 months, up 21% from the prior year. Is New 90 Day High Low • Oct 23
New 90-day high: GH₵3.85 The company is up 1.0% from its price of GH₵3.80 on 22 July 2020. The Ghanaian market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is down 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is GH₵5.39 per share. Announcement • Aug 21
GCB Bank Limited Announces Resignation of Ransford Anselm Sowah as Managing Director GCB Bank Limited announced the exit of the Managing Director of the Bank, Ransford Anselm Sowah. In the interest of continuity, good governance and particularly to ensure a smooth handing over, the Board has agreed that he stays on in an acting position up to September 30, 2020 to enable him complete all handing over protocols and assist the Bank in the transition. 
