• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Banking & Finance

First Atlantic Bank grows total assets value to GHS 6.3bn in Q3 2022

3 years ago
in Banking & Finance, Features, highlights, Home, home-news, latest News, Markets
2 min read
0 0
0
166
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

First Atlantic Bank grows total assets value to GHS 6.3bn in Q3 2022

Total assets value of First Atlantic Bank (FAB), grew by some GHS 2.1bn year-on-year to end the third quarter of 2022 at GHS 6.3bn.

Total assets value of First Atlantic Bank in Q3 2021 stood at GHS 4.1bn.

Growth in the bank’s total assets value per its Q3 2022 Financial Statement, was on the account of increments in cash and cash equivalents and loans and advances to customers.

First Atlantic Bank’s cash and cash equivalents ended Q3 2022 at GHS 2.08bn from the previous figure of GHS 718m in Q3 2021.

Loans and advances to customers also ended Q3 2022 at GHS 1.3bn from the previous figure of GHS 728m in Q3 2021.

A perusal of the bank’s Q3 2022 financial statement reveals a corresponding GHS 2.1bn increase in liabilities of the bank.

RelatedPosts

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

Accounting for the growth in liabilities was the rise in customer deposits which stood at GHS 4.6bn at end-Q3 2022.

Recorded net profit for the period under review was GHS 79m, a decline from the GHS 83m net profit recorded in Q3 2021.

Asset quality of the bank within the review period witnessed some improvement as the bank reduced its gross non-performing loans from 15% in Q3 2021 to 12% in Q3 2022.

The reduction in non-performing loans indicates the use of effective loan recovery methods by the bank.

Capital Adequacy Ratio of the bank within the review period however, witnessed a decline from 21% in Q3 2021 to 19% in Q3 2022.

Despite the decline, the bank’s Capital Adequacy Ratio still remains above the Central Bank’s minimum Capital Adequacy Ratio requirement of 13%.

 

Tags: First Atlantic grows at total assets value to GHS 6.3bn in Q3 2022
No Result
View All Result

Highlights

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

Sha’Carri Richardson Withdraws from US Trials Following Arrest

From Singuluma to El Kaabi: Can CHAN 2024 Unleash the Next Hat-trick Hero?

Ghana to Welcome King’s Baton Relay on August 8 Ahead of 2026 Commonwealth Games

Trending

Features

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

August 2, 2025

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes Parliament has adjourned...

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

August 2, 2025

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

August 2, 2025

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

August 2, 2025
Bank of Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

August 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

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

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.