• 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

GCB Grows Asset Value To GHS 33.1 Billion; Records GHS 423 Million Profit-After-Tax In Q2 2024

1 year ago
in Banking & Finance, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
2
171
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

GCB Grows Asset Value To GHS 33.1 Billion; Records GHS 423 Million Profit-After-Tax In Q2 2024

GCB Bank for the second quarter of 2024 recorded a total asset base value of GHS 33.1 billion marking a year-on-year increase of GHS 9.48bn when compared to the GHS 23.6bn total asset base value recorded in Q2 2023.

Growth in the bank’s asset value was driven primarily by increments in cash and cash equivalents, loans and advances to customers, and investment securities – mainly government securities.

On a year-on-year basis, the bank’s cash and cash equivalents rose significantly from GHS 4.16bn in Q2 2023 to GHS 10.4bn in Q2 2024; loans and advances to customers within the same review period also rose from GHS 6.07bn to GHS 7.62bn indicating the bank’s commitment to providing credit to the private sector to bolster job creation and employment and economic growth.

Investment securities mainly in government securities also within the review period increased from GHS 10.86bn to GHS 11.78bn, helping to finance government’s short-term liquidity needs.

Liabilities of GCB Bank driven largely by customer deposits with the bank, grew to GHS 29.9bn from the GHs 21.5bn liabilities recorded same period last year.

Customer deposits at the bank grew from GHS 18.94bn in Q2 2023 to GHS 26.18bn in Q2 2024, an indication of the trust that customers have in the bank.

RelatedPosts

Among Africa’s Top Performing Currencies — the Zambian Kwacha

PIAC Urges Increased Investment in Petroleum Sector as Ghana Projected to Capture 20% of West Africa’s $80bn Oil and Gas Market by 2033

BoG Reviewing Consumer Recourse Mechanism to Address Gaps in Complaint Redress System, Says 2nd Deputy Governor

The significant increase in the Bank’s customer deposits further strengthens the bank to enhance its credit creation ability by giving out more loans to businesses for expansion and growth.

The bank’s profit-after-tax at end-Q2 2024 amounted to GHS 423m up from the GHS 333m recorded at end-Q2 2023.

Growth in GCB Bank’s net profit was on the account of an increment in its operating income which stood at GHS 1.88bn at end-Q2 2024.

Earnings per share to shareholders for the second quarter of 2024 based on the bank’s profit-after-tax stands at GHS 3.20, an improvement from the GHS 2.52 earnings per share based on Q2 2023 profit-after-tax.

Loan asset quality of GCB Bank within the review period improved marginally as the bank’s non-performing loans ratio stood at 19.9% of gross loans made as against the 20.2% non-performing loans ratio of gross loans made same period last year.

Despite being on the high side, the bank’s non-performing loan ratio is well below the banking industry’s average non-performing loan ratio of 24.1%.

Capital Adequacy Ratio (CAR) of the bank remained steady over the one-year period at 18.5% which is well above the minimum 13% CAR regulatory requirement by the Central Bank of Ghana.

Tags: CARGCB BankGCB Grows Asset Value To GHS 33.1 Billion; Records GHS 423 Million Profit-After-Tax In Q2 2024NPLsprofit-after-tax

Comments 2

  1. FORSTER OTENG KWADWO AMOAKO says:
    1 year ago

    Good Day.
    I speaks on Economic, Finance and Tax issues in Ghana. I grants interviews to TV and radio station nationwide.

    Besides I write articles in such areas.

    I would be happy to have my contributions to the National economy published in your publication.

    I am an Economis, Chartered Accountant,a Chartered Tax Practitioner and a member of the Institute of Directors Ghana.

    Forster Oteng Amoako
    CA, MCITG, MIoD)

    • Norvan Acquah - Hayford says:
      1 year ago

      Good morning, Mr Amoako

      We at NorvanReports are happy you got in touch.

      Kindly send all your articles to norvan.hayford@gmail.com, or you can get in touch with our Managing Editor on 0264511013 or WhatsApp him on the same number. He will be very glad to speak with you. He is also a member of the Institute of Directors of Ghana.

      Hoping to hear from you soonest.

      Best regard

No Result
View All Result

Highlights

A Look at the Opportunities and Challenges as North America Gears Up for the 2031 Women’s World Cup

Black Stars Nominated for National Team of the Year at 2025 CAF Awards

Parliament to Hold Special Hearings on Extractive Industries’ Impact on Jobs and National Development

Ghana’s Economy Ranked Among 14 African Economies at High Risk of Short-Term and Commercial Vulnerability

Dangote Plans Refinery Upgrade to Dethrone India and Lead the Global Refining Market

FirstBank Ghana Concludes Third Junior Internship Programme to Nurture Future Leaders

Trending

Business

Among Africa’s Top Performing Currencies — the Zambian Kwacha

October 22, 2025

Among Africa’s Top Performing Currencies — the Zambian Kwacha Zambia’s currency is enjoying its best run in...

PIAC Urges Increased Investment in Petroleum Sector as Ghana Projected to Capture 20% of West Africa’s $80bn Oil and Gas Market by 2033

October 22, 2025

BoG Reviewing Consumer Recourse Mechanism to Address Gaps in Complaint Redress System, Says 2nd Deputy Governor

October 22, 2025

A Look at the Opportunities and Challenges as North America Gears Up for the 2031 Women’s World Cup

October 22, 2025

Black Stars Nominated for National Team of the Year at 2025 CAF Awards

October 22, 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.