GCB Bank Limited has denied ever engaging in any transaction that purportedly transferred GH¢52.5 billion to unknown sources.

This was contained in a letter said to have been issued by the Ghana Audit Service (GAS).

The letter, making rounds on social media, was dated 5th October, 2020.

But in a statement issued by the Corporate Affairs Department of the Bank, the allegations are false.

“This is false and mischievously designed to discredit the Bank.

“We hereby deny the allegation that GCB has effected unauthorized transfers.”

The Bank assured all its stakeholders that as a bank of international repute, it conducts its activities in line with “sound banking principles”.

“The Bank will not engage in any activity that will erode the trust and confidence the public has reposed in us over the years.”