GCB bank

GCB Bank has posted profit before tax of GH¢317.13 million for the nine months period ending September 30, 2019.

This is an improvement over the GH¢224.99 million recorded over the same period in 2018 financial year and represents 40.9% increase.

During the period, total revenue amounted to GH¢1.13 billion, up 25.1% compared to GH¢ 903.23 million generated over the same period in 2018. The revenue performance was driven by strong growth in earning assets and non-funded income.

As a result of the growth in earning assets, the Bank’s net interest income increased to GH¢843.31 million from GH¢671.62 million, representing a growth of 25.6%.

The net fee and commission income of the Bank soared from GH¢150.65 million in 2018 to GH¢165.45 million in 2019.Trading income out performed prior period by 72.7% to settle at GH¢ 114.11 million.

3rd Quarter Financial Statement 2019

The Bank’s total asset based increased from GH¢10.38 billion to GH¢11.27 billion, up 8.6% largely underpinned by customer deposits.

Customer deposit stood at GH¢ 8.79 billion, up 19.6% relative to GH¢7.35 billion for the same period in 2018.

The Bank remained solid, with strong liquidity and capital adequacy above the minimum regulatory limits.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.