Ghana Commercial Bank Changes Its Name To GCB Bank PLC
The Ghana Commercial Bank Limited has changed its corporate name to Public Limited Company (PLC).
According to the Financial Company, it has changed its name due to a resolution passed by the stakeholders of the Bank at its Annual General Meeting held on 25th March, 2021. The name was then published on the 1st November, 2021.
READ THE STATEMENT BELOW:
For Immediate Release
OFFICIAL NOTIFICATION OF CHANGE OF NAME FROM
GCB BANK LIMITED TO GCB BANK PLC
Accra, December 29, 2021:
This is to officially inform the general public and stakeholders that the corporate name of the Bank has been changed from GCB Bank Limited to GCB Bank PLC as per a resolution passed by the shareholders of the Bank at its Annual General Meeting on 25th March, 2021 and subsequent publication of the new name on the 1st November, 2021 in the Commercial and Industrial Bulletin No 48 on page 406.
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 Limited 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.”