
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
-
Zoomlion Chairman Dr Joseph Siaw Agyepong tours flood hotspots as Accra grapples with drainage crisis
53 minutes -
GHS outlines four priorities to strengthen Free Primary Healthcare delivery
1 hour -
People-centred healthcare begins with access, not policy – WHO to Ghana
1 hour -
CHAG indispensable to Ghana’s Free Primary Healthcare rollout – WHO
1 hour -
GHS commends CHAG for delivering healthcare to hardest-to-reach areas
1 hour -
ECG Ashanti West plants trees to boost greenery in Kumasi
1 hour -
EPA links plastic pollution and blocked waterways to worsening floods
2 hours -
Liverpool target Diomande would prefer to join PSG
2 hours -
Africa’s World Cup success leaves Asia looking for answers
2 hours -
Lewandowski joins MLS side Chicago Fire until 2028
2 hours -
When Accra Flooded: How structural vulnerabilities and climate dynamics turned heavy rain into disaster
2 hours -
Fire destroys Nobya TV/FM in Nalerigu
2 hours -
Bournemouth reject Arsenal interest in Scott
2 hours -
Djokovic ‘happy but not the freshest’ after Wu battle
2 hours -
Your WhatsApp username is up for grabs – Reserve yours now before someone else takes it
3 hours