Ecobank Ghana recorded a 7.6% growth in profit in the first-half of 2022 despite the economic uncertainties in the country.

According to its 2022 2nd quarter Financial Statement, the biggest bank in Ghana saw its profit hitting ¢344.9 million in June 2022, from ¢320.4 million in June 2021.

This was driven by a 29% and 24% growth in net interest income and net fees and commissions to ¢818.7 million and ¢197 million respectively in 2022.

As a result, earnings per share was estimated at ¢2.14 in June 2022, from ¢1.99 in June 2021.

The bank was also able to bring down its bad loans down to ¢100.5 million in the 2nd quarter of this year, as against ¢110.9 million recorded during the same period last year.

Balance sheet remains robust

The balance sheet size stood at ¢40.4 billion in June 2021, higher than the ¢29.9 billion, recorded in the first-half of 2021. This was due to a strong growth in deposits by 38%, as customer deposits hit ¢16.65 billion in the 2nd quarter of 2022, as against ¢11.97 billion during the same period in 2021.

In terms of stability of the bank, the bank’s Non-Performing Loans fell to 10.92% in July 2021, from 13.86% in June 2021. This is lower than the industry average of about 14.41%.

Capital Adequacy Ratio - a measurement of a bank’s available capital to its Risk Weighted Assets - was 16.05%, lower than the industry average of 19.4%.

Liquidity ratio also declined to 81.9% in June 2021, from 107.25% in June 2021.

Financial Highlights

Revenue	20%
Total assets	32%
Loans	42%
Deposits	38%