Cash Equivalents and Loans Drive Republic Bank Assets Value to GHS 9.5Bn at End-2024
Republic Bank concluded the 2024 fiscal year with a total asset value of GHS 9.54 billion, marking a 37.8% year-on-year increase from the GHS 6.92 billion recorded in 2023.
The growth in the bank’s asset value was driven by an increase in cash and cash equivalents as well as loans to customers.
By the end of 2024, the bank’s cash and cash equivalents had surged to GHS 4.47 billion, up from GHS 2.98 billion at the end of 2023.
Similarly, loans and advances to customers increased to GHS 3.05 billion from GHS 2.43 billion over the same period.
Liabilities and Deposits
Republic Bank’s liabilities also saw an uptick, rising to GHS 8.56 billion at the end of 2024 from GHS 6.13 billion in 2023.
The increase was primarily driven by higher customer deposits, which grew from GHS 5.86 billion in 2023 to GHS 6.11 billion in 2024.
Shareholders’ Equity and Capital Adequacy
Shareholders’ equity recorded a significant increase, rising from GHS 791 million in 2023 to GHS 979 million in 2024.
Meanwhile, the bank’s Capital Adequacy Ratio (CAR) declined marginally, ending 2024 at 18.20%, compared to 19.24% in the previous year.
Loan Asset Quality
Republic Bank’s loan asset quality remained relatively stable, with its Non-Performing Loans (NPL) ratio at 15.66% at the end of 2024, a slight improvement from the 15.95% recorded in 2023.
Notably, the bank’s NPL ratio remains significantly below the banking industry’s average of 24%.
Republic Bank’s performance underscores its continued growth and financial stability despite a challenging economic environment.
