Equity Analysis /
Ghana

Ghana banks: Impressive Q1 performance, but impairment charges remain a concern

  • Non-interest income continues to serve as a key source of earnings growth for banks, driven by fee and trading income

  • Improved efficiency, following decline in cost/income ratio across the banks we cover as they keep costs in check

  • Margins up 400bps on the back of increase in investment securities (+42% yoy), on account of lower demand for credit

Ghana banks: Impressive Q1 performance, but impairment charges remain a concern
Gbemisola Ogungbade
Gbemisola Ogungbade

Research Analyst

Faith Mwangi
Faith Mwangi

Equity Research Analyst, Financials (East Africa)

Tellimer Research
25 June 2021
Published byTellimer Research

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