• 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

GTBank posts 2.39% NPL, GHS 102m net profit for Q1 2022

3 years ago
in Banking & Finance, Banking/Finance, Features, highlights, Home, home-news, latest News, Reports
2 min read
0 0
0
163
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

GTBank posts 2.39% NPL, GHS 102m net profit for Q1 2022

The Guaranty Trust Bank (Ghana) for the first quarter of 2022, posted net profit of GHS 102.7m.

This is an increase of GHS 20.8m in net profit as against the GHS 81.9m recorded in Q1 2021.

A perusal of the bank’s Unaudited Financial Statement for Q1 2022 indicates that increment in the bank’s revenue from GHS 155m to GHS 210m and subsequently its profit-before-tax from GHS 117m to GHS 158m on a year-on-year basis accounted for the rise in net profit.

Total asset base of GTBank at the end of the first quarter of 2022 amounted to GHS 5.70bn, representing an increase of GHS 668m from the total asset base of GHS 5.03bn in the same period last year.

Mainly accounting for the rise in the bank’s total asset value were increments in its cash and cash equivalents as well as loans and advances to customers.

GTBank’s cash and cash equivalents grew from GHS 894m in Q1 2021 to GHS 1.38bn in Q1 2022, for loans and advances to customers, the bank recorded a marginal increase from GHS 1.64bn to GHS 1.84bn.

RelatedPosts

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

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

Read: Gov’t misses T-Bills auction target by GHS 714m as disinterest in debt securities continue

Liabilities of the bank for the review period also grew to GHs 4.38bn from the previous figure of GHS 3.81bn in Q2 2021.

Deposits by customers accounted for over 90% of the bank’s liabilities as it amounted to GHS 4.21bn of GTBank’s total liabilities in Q1 2022.

Regarding the bank’s loan asset quality, GTBank witnessed a marginal deterioration of its loan asset quality as its non-performing loans as a ratio of gross loans increased from 1.02% to 2.39%.

However, the bank’s Capital Adequacy Ratio (CAR) which measures the bank’s ability to cover loan losses grew by 5% ending Q1 2022 with a CAR of 40% as against the 35% CAR recorded in Q1 2021.

The bank’s CAR of 40% is way above the Bank of Ghana’s 13% minimum CAR requirement.

Additionally, the bank for the review period also increased its liquidity ratio to 65.8% in Q1 2022 from 62.8% in Q1 2021.

This implies that the bank has marginally strengthened its capacity to pay its short term debt obligations when they are due.

Peruse financial statement below:

2022 Q1 Financials Publication Web Copy 2022 04-29-145359 Flkm (1) by Fuaad Dodoo on Scribd

Tags: Bank of Ghana (BoG)ghanaGTBankliabilitiesnet profit
No Result
View All Result

Highlights

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

RMA Demands Public Inquiry into Unibank Collapse, Slams AG’s Decision to Drop Charges

Trending

Features

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

August 2, 2025

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe The Ghana Airports Company Limited (GACL) has officially...

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

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

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.