The Ghana Commercial Bank (GBC) is commitment to deepening financial intermediation in the rural areas to promote the growth of small and medium scale enterprises.

The financial institution would, therefore, remain focus on its programme of supporting the enterprises to enable the rural areas chart a new economic course.

Mr Peter Ocran, a Board member of the GBC, said these at a dinner dance and award ceremony to round-off activities marking the Bank's 50th anniversary celebrations in Accra on Saturday.

The celebration was launched in May under the theme: "50 years of Indigenous Initiative in Banking: Achievements, Challenges and Prospects."

According to Mr Ocran, the Bank as a major financial institution, with its wide network across the country was in a good position to effectively assist in national development efforts aside of inculcating banking habits to a sizeable proportion of the population.

"Indeed the bank is poised to adopt a more positive posture in providing financial resources to all sectors of the economy," he said.

Mr Peter Ocran said the rapid technological changes in the banking sector were bound to change the activities of banking entirely and the GCB needed to be focused in order to stay in competition.

He praised the founding founders of the bank for their foresight, the pioneers for their devotion and dedicated service and shareholders for the keen interest and support they offered the financial institution in the past years.

Mrs Matilda Obeng Ansong, Managing Director of GCB, said the Bank had come a long way and was proud to say that it was performing creditably due to the dedication and hard work of its staff. In all three staff and a past student of the University of Ghana received awards.

Mr E.A. Hayford a past worker, who served the bank for 41 years, was given the longest serving award and received a plaque and a refrigerator.

Mrs Adelaide Odoi Larteh, a pioneer worker and Mrs Cecilia Amankwaah, who has been with the bank for 38 years were each given a certificate, a plaque and refrigerator.

Mr Francis Ofori, a past student of the University of Ghana, adjudged the best student in Banking and Finance for 2002, won the maiden award of the Best Student in Banking and Finance and received a Cheque for five million cedis and a plaque.

The GCB was established in 1953 as the Bank of the Gold Coast to provide the financial needs of the people because the main banks in the then Gold Coast functioned as import and export banks for merchants. The bank now has 130 branches spread over the country.

Ghanaians own 53.9 per cent of the bank's shares while the government owns the remaining 46.1 per cent.