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

Subscribe to read this report

You can read this report by subscribing to a Starter or Pro plan today.

Already have an account? Log in

Recommendations

Access to recommendations is a Pro feature.

Disclosures

This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").

The Analyst certifies that the views and forecasts expressed in this report accurately reflect their personal views about the subject, securities, or issuers specified herein. In addition, the Analyst certifies that no part of their compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in this report.

Research ratings explanation and full Tellimer disclaimers