ADVERTISEMENT
Get Started
  • About Homebase Tv | Hbtvghana.com
  • Advertise
  • Broadcast Live
  • Disclaimer
  • Privacy & Policy
  • Terms and Conditions
  • Vacancies
  • Contact Us – Connect With Us
Homebase Tv - Hbtvghana.com
  • Home
  • General News
  • Business News
  • Health
  • Life & Style
  • Politics
    • Press Release
    • Parliament
  • Sports
No Result
View All Result
  • Home
  • General News
  • Business News
  • Health
  • Life & Style
  • Politics
    • Press Release
    • Parliament
  • Sports
No Result
View All Result
Homebase Tv - Hbtvghana.com
No Result
View All Result
ADVERTISEMENT
ADVERTISEMENT

GCB records ¢190m profit in Q1 2023 despite huge loss in 2022

Thu, Apr 27 2023 1:57 PM
in Business, Ghana General News
gcb records c2a2190m profit in q1 2023 despite huge loss in 2022
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on TelegramShare on Whatsapp
ADVERTISEMENT
John Kofi Adomakoh

Despite recording a loss of ¢568 million for the year-ending 2022, GCB Bank exhibited remarkable performance in its quarter one, 2023 financial statement.

The bank recorded ¢190.4 million profit in the first quarter of 2023, with deposit growth of over ¢2.0 billion, with some analysts describing it as an impressive recovery.

As usual, most of the income came from interest on investments and loans. It recorded net interest income of ¢632.7 million in quarter 1, 2023, as against ¢485.4 million during the same period in 2022.

For financial soundness indicator, its Capital Adequacy Ratio (CAR) in the first quarter of 2023 stood at 18.5%, from 20.9% recorded during the same period in 2022. This was far ahead of the industry average of 12%

However, Non-Performing Loan ratio rose to 20.2% at the end of March 2023, as against 19.6% in March 2022.

In 2022, the bank registered an operating income of ¢2.97 billion, from ¢2.39 billion recorded in 2021.

ReadAbout

You will not lose any value after restructuring of MobileMoney Limited – MTN Board Chair assures shareholders  

Cedi gains unsustainable without real sector growth – Prof Lord Mensah warns

First National Bank appoints Adwoa Boateng Addo as Chief People Officer

However, the net impairment of investment securities to the tune of ¢1.8 billion in 2022 triggered a loss on the part of the bank. This is as a result of the Domestic Debt Exchange Programme.

For the shareholders’ funds, the bank’s stated capital remained at ¢500 million in 2022, whilst retained earnings stood at ¢746.0 million, compared to ¢1.43 billion in 2021.

Since the bank recorded a loss, it is unlikely shareholders will receive dividend for the 2022 financial year.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policies of Homebase Television Ltd.

  • President Commissions 36.5 Million Dollars Hospital In The Tain District
  • You Will Not Go Free For Killing An Hard Working MP – Akufo-Addo To MP’s Killer
  • I Will Lead You To Victory – Ato Forson Assures NDC Supporters

Visit Our Social Media for More

About Author

c16271dd987343c7ec4ccd40968758b74d64e6d6c084807e9eb8de11a77c1a1d?s=150&d=mm&r=g

hbtvghana

See author's posts

Discover interesting ones too

Ramaphosa keeps cool during Trump’s choreographed onslaught

Ramaphosa keeps cool during Trump’s choreographed onslaught

0
Veep of National House of Chiefs criticises governance culture of abandoning state projects

Veep of National House of Chiefs criticises governance culture of abandoning state projects

0

Ex NYC Governor Andrew Cuomo under investigation for Covid testimony

Ex NYC Governor Andrew Cuomo under investigation for Covid testimony

OKESS firearm case: Student, stepfather granted GH¢80,000 bail

Ghana throws open its doors with visa processing slashed to 5 days in dramatic policy reset

Ghana throws open its doors with visa processing slashed to 5 days in dramatic policy reset

Italy tightens rules for Italian descendants to become citizens

Tottenham beat Man Utd to win Europa League & end 17-year wait for trophy

Clear and strong climate policies are antidote to economic uncertainty – UN Climate Chief

  • Ghana and Japan agree to pursue UN Security Council reforms

    Ghana and Japan agree to pursue UN Security Council reforms

    0 shares
    Share 0 Tweet 0
  • Beneath the Surface of the National Service Scheme (NSS)

    0 shares
    Share 0 Tweet 0
  • The Boob Movement founder, Abby Zeus poses completely nude in bed (18+photo)

    0 shares
    Share 0 Tweet 0
  • Tiwonisam Dogs World Hosts 2nd Edition of Nala Memorial Lecture in Accra

    0 shares
    Share 0 Tweet 0
  • Steve Harvey’s Jaw-Dropping Revelation: Abandon Preconceptions and Embark on an African Adventure!

    65073 shares
    Share 0 Tweet 0
ADVERTISEMENT
ADVERTISEMENT

Follow Homebase Tv

  • About Homebase Tv | Hbtvghana.com
  • Advertise
  • Broadcast Live
  • Disclaimer
  • Privacy & Policy
  • Terms and Conditions
  • Vacancies
  • Contact Us – Connect With Us

© 2014 Total Enjoyment & Proper News

No Result
View All Result

© 2014 Total Enjoyment & Proper News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.