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This report is coming on the back of the Domestic Debt Exchange Programme.
According to the report, Absa Bank Ghana recorded an increase in year-on-year profit by 103.5% to ¢1.506 billion in the first nine months of 2023.
It was followed by Stanbic Bank Ghana with quarter 3, 2023, profit of ¢1.18 billion (84.1% growth year-on-year).
Guaranty Trust (GT) Bank came 3rd with a profit of ¢847.5 million (57.7% year-on-year increase).
GCB Bank (¢830.8 million), Standard Chartered (¢820.8 million), and Ecobank Ghana (¢790.4 million) came 4th, 5th, and 6th respectively.
The least profitable bank was First National Bank, with a 103% decline in profit to about ¢400,000.
However, all the banks registered profits in the first nine months of 2023.
GT Bank most efficient bank
For efficiency, GT Bank (19.0%) was the most efficient bank in terms of cost-to-income ratio in quarter 3, 2023.
It was followed by UBA (25.7%) and Absa Bank Ghana (29.4%).
The lowest-ranked efficient bank was Consolidated Bank Ghana (121.3%).
Ecobank Ghana remains biggest bank
For the market share, Ecobank Bank remained the biggest bank in Ghana, controlling the banking industry deposits by 13.1% as of September 30, 2023.
It was followed by GCB Bank and Stanbic Bank Ghana with 10.5% and 9.2% market share respectively.
The three banks also controlled the industry loans and advancement with a total share of 34.2%.
Source: vibesandtrends.com
