Audio By Carbonatix
Banking stocks remained at the centre stage on the Ghana Stock Exchange (GSE) after staging a comeback in quarter one 2024.
They remained in the spotlight, closing the second quarter of 2024 as a major contributor to market return performance.
This highlighted the sector's continuous resilience, as the sector recorded a remarkable turnaround in profitability after experiencing challenges from the Domestic Debt Exchange Programme.
This is evidenced by the Ghana Stock Exchange Financial Stock Index (GSE FSI), which gained about 114 points during the quarter, with a Year-to-Date return of 11.23%.
Ecobank Ghana closed the quarter as the topmost gainer, soaring by 155.23% quarter-on-quarter to GHS6.10, driven by catalysts, including an astounding 2453% increase in net profit for quarter one 2024.
Similarly, GCB Bank (GHS5.5, +60.35%), Access Bank (GHS4.8, +7.87%), and Standard Chartered Bank (GHS20, +2.90%) also joined the ranks of gainers, supported by their robust quarter one 2024 results that underscored a complete recovery from previous impairment losses.
Latest Stories
-
“I’m not sure” – K.T Hammond unsure if OSP has questioned Kwabena Donkor over Berko bribery case
2 hours -
Istanbul trip was standard due diligence for Aksa power deal – K.T. Hammond
2 hours -
Kwabena Donkor never met Asante Berko, demanded or received money – K.T. Hammond
2 hours -
$1m bribery scheme: ‘I’m not so instructed’ – Lawyer on whether OSP has contacted Kwabena Donkor
3 hours -
Kwabena Donkor can’t be held liable for Asante Berko’s alleged corruption – KT Hammond
3 hours -
Ghana’s refining capacity yet to shield fuel market from global shocks – CEMSE
3 hours -
New train service connects Finland and Sweden for first time in decades
3 hours -
Tonto Dikeh unveils new ministry
3 hours -
Honey, they’ve shrunk our Mars Bars
3 hours -
Ho Teaching Hospital Board urges government to operationalise Korean Exim Bank loan
3 hours -
AKSA Energy case: Emails, names of recipients key to proving Ghanaian officials’ involvement – Kpebu
4 hours -
Luv FM Kel-Charcoal Debate kicks off with thrilling wins for Wesley Girls and CHRISSEC
5 hours -
No Roof, no future: Ghana’s rent crisis is turning survival into a luxury
5 hours -
Domestic violence in Ghana: The crisis behind close doors
5 hours -
AKSA Energy case: Ghana has evidence to trigger own accountability process – Osae-Kwapong
5 hours