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Banking sector in Ghana: a 51.4% increase in net profit recorded in the first half of 2023

14/09/2023
Source : ORISHAS FINANCE
Categories: Sectors

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During the first six months of 2023, the revenues, total assets, and pre- and after-tax profits of the Ghanaian banking sector increased significantly.

Ernest Addison, Governor of the Central Bank of Ghana, presented some data on Tuesday, September 12, on the occasion of the celebration of the 60th anniversary of the Chartered Institute of Bankers, dedicated to the training of professionals and practitioners in the sector Ghanaian financier. These data mention that Ghanaian banks completed the first half of 2023 with a net profit of 4.3 billion Ghanaian cedis ($374.8 million), up 51.4%, compared to 2.8 billion Ghanaian cedis ($244.1 million)

, posted during the same period in 2022.

According to the Governor of the Central Bank, this increase in the banking sector's net profit is the result of “a consensus reached with industry players on the treatment of the losses displayed and the introduction of temporary prudential and regulatory reliefs that have promoted a rebalancing of the banks' investment portfolio”.

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