Bayport Savings and Loans Plc recorded a 75.4% year-on-year increase in half-year profits, reaching GH¢26.5 million for the period ended 30 June 2025, according to unaudited financial statements released this week.
The microfinance institution attributed the growth to expanded lending and a significant rise in customer deposits.
Customer deposits surged 182% to GH¢471.6 million, fueling a 17.3% expansion of the loan portfolio to GH¢1.11 billion. This deposit growth offset higher operating costs, with net interest income climbing 32.1% to GH¢111.2 million. The results mark a turnaround from June 2024, when the institution reported GH¢15.1 million in profits.
Financial Highlights:
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Asset Growth: Total assets increased 15.3% to GH¢1.38 billion
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Capital Strength: Shareholder equity rose to GH¢263.3 million, bolstered by a GH¢20 million transfer to share capital
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Credit Risk: Non-performing loans ratio improved to 12.6% (from 16.0% in 2024)
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Branch Network: Operations span 44 locations nationwide
The institution’s capital adequacy ratio stood at 11.9%, above regulatory minimums despite declining from 14.5% in 2024. Provisions for credit impairments rose to GH¢9.2 million, reflecting portfolio expansion.
Strategic Shifts:
Bayport increased investments in digital infrastructure, with intangible assets growing 113% to GH¢8.07 million. The institution also reduced reliance on shareholder loans by 24.5%, while maintaining borrowing levels at GH¢481 million.
Managing Director Akwasi Aboagye noted: “Our deposit mobilization strategy and disciplined lending have positioned us for sustainable growth. The capital restructuring strengthens our capacity to serve underserved communities.”
Regulatory filings confirm compliance with Bank of Ghana requirements, with no liquidity defaults reported. The institution maintains its microcredit authorization under Ghana’s banking reforms.
