GCB nears GHS 40 billion asset base value; posts GHS 613 million profit-after-tax in Q3 2024

GCB Bank Plc's total assets surged by 57.1% year-on-year to GHS 39.4 billion in Q3 2024, with a GHS 14.3 billion increase largely due to a 223% rise in cash and cash equivalents.

Investment securities grew by 6.2%, and customer loans rose by 63.1%. Liabilities also increased by 58.4% to GHS 36 billion. The bank’s profit-after-tax reached GHS 613 million, up 13.8% from last year, while its Capital Adequacy Ratio slightly decreased to 16%.

Additionally, GCB improved its non-performing loan ratio from 20.3% to 15.5%, indicating effective loan recovery efforts.

Read full article