• 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

Republic Bank, subsidiaries overcome economic headwinds, records impressive financial results in 2022

2 years ago
in Banking & Finance, Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
75
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Republic Bank, subsidiaries overcome economic headwinds, records impressive financial results in 2022

Republic Bank (Ghana) PLC and its subsidiaries have weathered the storm of the global economic challenges and local economic headwinds that have affected businesses across the world. Despite the significant impact of the Domestic Debt Exchange Program (DDEP), the Group has managed to achieve impressive financial results for the year 2022.

According to the Group’s financial report, all revenue lines have experienced growth, with net interest income and operating income recording a 23.53% and 29.22% increase, respectively. The Group’s profit after tax but before impairment on its investment securities rose to GHS 106.31 million, representing an 18.28% growth over the previous year’s GHS 89.88 million.

However, the Government of Ghana’s successful completion of the DDEP earlier this year forced the Group to recognize a credit loss/impairment of GHS 169.98 million due to its holdings in domestic bonds. This impairment led to the Group’s profit after tax of GHS 106.31 million turning into a net loss of GHS 61.13 million recorded for the year.

Despite the challenges faced, the Group’s balance sheet has shown strength, with total deposits growing by 27.47%, which propelled over a 20% growth in the assets base despite the significant provision made on the debt instruments.

The Bank’s Capital Adequacy Ratio, which is over a hundred percent above the minimum required ratio of 10%, stood at 21.35% at the end of the year. This confirms that Republic Bank remains well-capitalized, strong, and resilient.

In addition, the Group’s liquidity position is impressive, closing the year with a liquid ratio of 146.70%. This further cements the Group’s position as a safe and secure bank that can withstand the economic uncertainties that lie ahead.

RelatedPosts

Government Orders Flags at Half-Mast as Nation Mourns Defence, Environment Ministers & Others in Helicopter Crash

Defence Minister and Environment Minister Among 8 Confirmed Dead in Military Helicopter Crash

Serie A Players Face 25% Pay Cut if Relegated Under New Agreement

The Board and Management of Republic Bank (Ghana) PLC remain confident in the Group’s underlying strength, strong capital base, liquidity prowess, robust risk management framework, and strategic business planning, which have enabled it to navigate the current economic environment.

The Bank’s Board and Management would also like to reassure its hardworking staff that the Bank remains safe and secure, and it will continue to work tirelessly to maintain the trust and confidence of its cherished customers. The Bank counts on its staff to deliver on its commitments to ensure the continued success of the Bank.

Let us remain resolute and resilient in the discharge of our duties as we continue to serve our clients and communities with excellence in the face of adversity, for this is the Republic Bank hallmark.

Tags: records impressive financial results in 2022Republic Banksubsidiaries overcome economic headwinds
No Result
View All Result

Highlights

Osaka and Keys Advance to Quarter-Finals at Canadian Open

Ghana Armed Forces Helicopter Crashes in Adansi Akrofuom, 8 Feared Dead 

Cedi Appreciation Triggers 50% Drop in Remittance Inflows

Inflation Drops 160 basis points to 12.1% in July, Lowest Rate Since October 2021

Kwaku Azar Writes: Is Another SML Brewing at GACL?

GRA Refutes NIA’s Debt Claims, Cites Lack of Regulatory Approval and Service Agreement

Trending

Features

Government Orders Flags at Half-Mast as Nation Mourns Defence, Environment Ministers & Others in Helicopter Crash

August 6, 2025

Government Orders Flags at Half-Mast as Nation Mourns Defence, Environment Ministers & Others in Helicopter Crash Ghana...

Defence Minister and Environment Minister Among 8 Confirmed Dead in Military Helicopter Crash

August 6, 2025

Serie A Players Face 25% Pay Cut if Relegated Under New Agreement

August 6, 2025

Osaka and Keys Advance to Quarter-Finals at Canadian Open

August 6, 2025

Ghana Armed Forces Helicopter Crashes in Adansi Akrofuom, 8 Feared Dead 

August 6, 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.