GCB Bank

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GCB’s Q3 21 results showed 24% yoy growth in its EPS to GHS0.47, higher than the 21% yoy expectation. We maintain our Buy recommendation on GCB with a TP of GHS8.6, translating to an ETR of 65%. Operating efficiency improved as the cost/income ratio ...

GCB's Q2 21 EPS increased by only 6% yoy to GHS0.38, mainly on the back of an increase in tax charge (42% in Q2 21 from 30% in Q2 20) as a result of the government imposing a 5% financial sector recovery levy on PBT to support financial sector reform...

Ghana's banking sector recorded 18% yoy growth in net interest income in Q1 21, supported by an improvement in interest expense (up just 2% yoy vs +17% yoy in Q1 20) on the back of an increase in low-cost deposits (+18% yoy). The banks that we cover ...

Wall Street took a pounding yesterday, and while futures this morning point to a modest bounce, the outlook is more troubled given the jump in inflation that has prompted speculation that the Federal Reserve may have to unwind some of its stimulus ef...

In Ghana, the three sectors that have been most badly affected by Covid-19 are commerce & finance, tourism & hospitality, and transport. The repayment capacity of businesses and individuals has been weakened due to Covid-19. We expect the banks' impa...

We have a positive outlook on the banking sector on the back of banks' impressive Q3 20 performance, which saw a 65% yoy growth in earnings, and 18% yoy increase in both deposits and total assets. Stanchart recorded the lowest estimated cost of risk ...