GCB Bank made a profit of GHS406 million in 2019, about 18.3% increase over the previous year.

In 2018, profit made was GHS343 million.

According to the bank’s 2019 Audited Financial Statement, GCB Bank’s bottom line was largely influenced by all the income lines (interest income, fees and commission and trading income).

The bank, however, wrote off GHS75 million as bad debt in 2019, as against a loss of GHS60 million in 2018.

The cost-to-income ratio was, however, high -- at 63.8%.

This means the bank will have to do more to lower its operating expenses.

On the balance sheet, customer deposits grew from a whopping GHS8 billion in 2018 to about GHS9.3 billion.

With regard to the financial soundness indicator, the bank’s Non-Performing Loans (NPLS) of 6.01% is one of the lowest in the banking industry.

Also, Capital Adequacy Ratio (CAR) was high -- at 17.5% at the end of 2019 as against 16.4% in 2018.

The bank was also liquid with liquidity ratio of 60%, but lower than the 62% registered in 2018.

Meanwhile, Access Bank profited from the increase in the stated capital of banks in Ghana, increasing its income in 2019 by about 388%.

According to its 2019 Audited Financial Statement, profit in 2019 was GHS172 million as against GHS38.6 million in 2018.

It benefited hugely from growth in net trading income, as well as fees and commission.

Net trading income increased from GHS59 million in 2018 to GHS100 million in 2019.

To this end, earnings per share increased from 28 pesewas in 2018 to GHS1 at the end of 2019.

The cost-to-income ratio was, however, high at 57.4%, meaning more has to be done to bring operating expenses down.

The bank’s CAR was high -- at 21.75%,  but the NPL was also high at 21.6% though had declined from 32.10% in 2018.