Total assets value recorded at end-December 2020 by Stanbic Bank Ghana was Ghs 12.7 billion.
The recorded total assets value for end-2020, represents a Ghs 3.4 billion or 24.5 percent year-on-year growth when compared to the Ghs 9.2 billion total assets value recorded for the year 2019.
The surge in the bank’s total assets value, per norvanreports’ perusal of Stanbic Bank’s 2020 Audited Financial Statement, is attributed to a phenomenal increment in the cash and cash equivalents and investment securities held by the bank, as well as advances and loans made to households and businesses.
Cash and cash equivalent for the period under review increased by some Ghs 1.09 billion from an end-2019 figure of Ghs 2.92 billion to Ghs 4.02 billion end-2020.
The bank in 2020, appears to have adopted an aggressive investment strategy as it almost quadrupled its investments, perhaps mostly in government securities as the monetary value of its investment securities end-2020 stood at Ghs 2.4 billion from an end-2019 figure of Ghs 668 million.
With regards to the bank’s total liabilities for the year under review, Stanbic Bank witnessed an increase of some Ghs 3.1 billion in liabilities from Ghs 7.9 billion in 2019 to Ghs 11.06 billion in 2020 – almost the same as the recorded growth in total assets.
Profit recorded for the year stood at Ghs 326 million, an increase of some Ghs 44.7 million from the Ghs 281 million recorded in 2019.
Stanbic Bank’s Non-Performing Loans (NPLs) for 2020 remained largely unchanged with the bank recording a 7.5 percentage points NPLs as a ratio of its gross loans as against the 7.4 percentage points NPLs recorded for 2019.
The bank’s Capital Adequacy Ratio (CAR) the year ended 2020 was 18.5 percent, an increase of 4.1 percent from the previous 14.4 percentage points recorded end-2019.