The Bank of Ghana (BoG) has instructed GCB Bank PLC to suspend its planned dividend payments after the bank temporarily breached the central bank’s single obligor limit.
In a statement dated October 20, 2025, GCB Bank explained that the breach followed the reclassification of restructured cocoa bills into long-term bonds — a move that changed how the assets are treated under regulatory rules. This shift led to temporary non-compliance, which prevented BoG from granting its “no objection” approval for the dividend payout.
The dividend had been approved at GCB’s Annual General Meeting on May 2, 2025, for the financial year ending December 31, 2024.
Previously, the cocoa bills were treated as treasury bills for regulatory purposes. However, their conversion to long-term bonds inadvertently caused the bank’s exposure to exceed the single obligor limit — a regulation aimed at preventing excessive risk concentration in one borrower or sector.
GCB stated that it is working closely with the central bank to resolve the issue and restore full regulatory compliance.
The bank also expressed regret over the inconvenience to shareholders and reaffirmed its commitment to strong governance, financial stability, and investor protection.
