Absa Bank Ghana was the most profitable bank in Ghana in the third quarter of 2023, PwC’s quarterly analysis of the banking industry report has revealed.
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%.
Latest Stories
-
April breaks global temperature records for 11th month in a row
12 mins -
Ghana Badminton announces scholarship program for 100 players
16 mins -
“We are on a mission” – Laryea Kingston
38 mins -
Tiwa Savage triumphs in the film ‘Water and Garri’
38 mins -
Rick Ross applauds Medikal for O2 concert, hints at collaboration
51 mins -
Limited Voter Registration Exercise: Offline voter registration to commence today
54 mins -
Amend reliefs seeking to disqualify Mahama from 2024 presidential election – Supreme Court directs Ken Kuranchie
1 hour -
Make GNPC great again – Asantehene to new CEO
1 hour -
Ghana’s Alfred Duncan helps Fiorentina book Europa Conference League final spot
1 hour -
OWASS ’99 Old Students spend over ₵500K to refurbish school compound
1 hour -
GRA provides clarity on E-VAT implementation; optimistic of its significant impact
2 hours -
Select running mate from Bono, Bono East else … – Dormaahene tells Bawumia
2 hours -
EC’s limited voter registration: 18-Year-Olds eagerly embrace voting rights in Ghana
2 hours -
‘My heart is for Berekum Chelsea now’ – Samuel Boadu
2 hours -
Chair of NDC-USA chapter Maame Aba Dadzie donates to struggling Ohiamadwen D/A Primary School
2 hours