Economy

GCB’s profit hit 229million cedis

The after-tax profit margin for Ghana Commercial Bank (GCB) has reached 229 million Ghana cedis  for 2013.

This represents a 60 percent jump from the 142 percent recorded for 2012.

GCB also witnessed some strong growth in most areas of its operations as interest income reached  552 million Ghana cedis in 2013 compared to the  376 million Ghana cedis in 2012.

Deposits from customers increased from 2.3 billion Ghana cedis to 2.6 billion  Ghana cedis.

GCB's total assets  now stands at 3.4 billion Ghana cedis for 2013.

According to the financial statement released so far by the listed bank, GCB might be the most profitable bank  in the country with the 229 million Ghana cedis profit after tax beating,  Standard Chartered Bank profits of 208  million Ghana cedis,  ECOBANK's profit after tax of 190 million Ghana and Barclays Bank Ghana limited's profit of 143 million Ghana  cedis.

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