First Atlantic Bank PLC has reported a 21 percent increase in profit after tax in the first quarter of 2026, its maiden quarterly filing since listing on the Ghana Stock Exchange (GSE) in December 2025, with stronger interest income and a significant improvement in loan quality driving the gains.
The group recorded profit after tax of GH¢94.4 million for the three months ended 31 March 2026, up from GH¢78.1 million in the same period of 2025. The bank on a standalone basis posted profit after tax of GH¢94 million, compared with GH¢78.5 million a year earlier. Profit before income tax at the group level rose to GH¢145.1 million from GH¢120.4 million.
Net interest income grew 18 percent to GH¢195.4 million from GH¢165.1 million, as the bank expanded its earning asset base. Net fee and commission income increased to GH¢42.7 million from GH¢30.9 million. Net trading income rose to GH¢32.7 million from GH¢13.1 million. Operating income for the group reached GH¢271.7 million, up from GH¢211.2 million in the first quarter of 2025.
A net impairment gain of GH¢20.7 million was recorded in the quarter, reversing GH¢25.4 million in impairment charges in the prior year period, reflecting the improved credit quality of the loan book.
Total assets at the group level expanded to GH¢18.28 billion from GH¢12.39 billion at the same point in 2025, a 47.5 percent increase driven largely by growth in investment securities, which reached GH¢5.42 billion from GH¢2.39 billion. Customer deposits grew to GH¢15.66 billion from GH¢10.60 billion. Loans and advances to customers increased modestly to GH¢1.69 billion from GH¢1.56 billion.
The bank’s regulatory indicators strengthened considerably. The capital adequacy ratio (CAR) improved to 21.35 percent from 17.46 percent in the first quarter of 2025, well above the regulatory minimum. The liquid ratio stood at 174 percent, against 103 percent a year earlier, reflecting a significantly more liquid balance sheet. The non-performing loan (NPL) ratio on a gross basis declined to 19.96 percent from 23.52 percent, indicating progress in resolving legacy problem assets. The NPL ratio excluding the loss category improved sharply to 1.43 percent from 4.55 percent. The bank reported no defaults in statutory liquidity requirements and no regulatory sanctions for the period.
Total shareholders’ funds at the group level grew to GH¢2.30 billion from GH¢1.67 billion. The financial statements were signed by Director Thelma Quaye and Managing Director and Chief Executive Officer (CEO) Odun Odunfa.
