Stanbic Bank Ghana, for the first quarter of this year, has posted a total assets value of Ghs 12.2 billion.
The recorded total assets value when compared to the Ghs 9.3 billion recorded for Q1 2020, represents an increase of more than Ghs 2.9 billion.
However, when compared on a quarter-on-quarter basis, the bank’s assets value declined from Ghs 12.7 billion at end-December 2020 to Ghs 12.2 billion at end-March 2021, representing a decline of Ghs 500 million.
Balance sheet items such as cash and cash equivalents and investment securities increased from Ghs 2.5 billion to Ghs 3.1 billion and Ghs 1.2 billion to Ghs 1.9 billion in Q1 2020 and Q1 2021 respectively.
Comparing total liabilities on a year-on-year basis, Stanbic bank’s liabilities grew from Ghs 7.9 billion in 2020 to Ghs 10.4 billion in 2021, recording an increase of Ghs 2.5 billion.
Profit recorded by Stanbic Bank for Q1 2021, amounted to Ghs 109 million. On a year-on-year basis, this represents an increase of Ghs 36 million when compared to the Ghs 73 million recorded for Q1 2020.
The bank’s profit growth was supported by increments in its net interest income which rose from Ghs 152 million in Q1 2020 to Ghs 185 million in Q1 2021, as well as its non-interest revenue which also grew from Ghs 96 million in Q1 2020 to Ghs 141 million in Q1 2021.
In terms of asset quality, Stanbic Bank’s Non-Performing Loans (NPLs) as a ratio of gross loans increased marginally from 7.97 percent to 8.08 percent at the end of the first quarter of this year.
With regards to its Capital Adequacy Ratio (CAR), the bank improved upon its adequacy ratio by 1.79 percentage points ending Q1 2021 with CAR of 21.26 percent, which is above the Bank of Ghana’s minimum ratio of 13 percent.
