• 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

StanChart grows assets value to GHS 15.3bn but sees GHS 110m dip in profitability in Q1 2024

1 year ago
in Banking & Finance, Business, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
112
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

New UN Forum Aims to Tackle Developing Economies’ Debt Issues

Dangote Plans 10% Sale of Refinery Shares

CAL Bank’s Total Assets Drop by GHS 1.42bn in Q3 2025; CAR Remains Below Regulatory Threshold

StanChart grows assets value to GHS 15.3bn but sees GHS 110m dip in profitability in Q1 2024

Standard Chartered Bank witnessed significant growth in its total asset value, reaching GHS 15.3 billion by the end of the first quarter of 2024, compared to GHS 12.8 billion in the same period last year. This represents a year-on-year increase of approximately GHS 2.5 billion.

The growth in asset value was primarily driven by increases in cash and cash equivalents (GHS 5.8 billion) and investment securities (GHS 6.5 billion). However, loans and advances to customers decreased slightly to GHS 2.05 billion by the end of Q1 2024.

On the liabilities front, deposits from customers emerged as a significant driver, surging to GHS 13.3 billion, a notable uptick from GHS 10.2 billion recorded in Q1 2023. This surge not only signals growing depositor confidence but also bolsters the bank’s credit creation prowess.

Despite the impressive growth in assets and deposits, the bank’s net profit for Q1 2024 witnessed a notable downturn, slipping to GHS 186 million compared to GHS 296 million in the corresponding period last year. This decline reverberates through a decrease in earnings per share for shareholders, plummeting from GHS 2.20 in Q1 2023 to GHS 1.38 in Q1 2024.

Nevertheless, there is a silver lining in the form of the bank’s capital adequacy ratio (CAR), which saw a commendable improvement, scaling up to 27.78% at the end of Q1 2024 from 21.86% in Q1 2023. This robust CAR figure not only surpasses the regulatory minimum set by the Bank of Ghana but also underscores the bank’s resilience and financial robustness.

However, concerns loom over the bank’s loan asset quality, as evidenced by a worrisome uptick in the non-performing loan ratio, which surged from 14.67% in Q1 2023 to a concerning 33.52% in Q1 2024. This deterioration underscores potential weaknesses in the bank’s loan recovery mechanisms and highlights potential risks in the bank’s loan portfolio.

Tags: GHS 110m dip in profitabilityStanChartStanChart grows assets value to GHS 15.3bn but sees GHS 110m dip in profitability in Q1 2024
No Result
View All Result

Highlights

Former First Lady Nana Konadu Agyeman-Rawlings Passes Away at 77

GFA President Commends Ghanaian Media, Calls For Continued Collaboration to Advance Football Development

Africa Loses $5bn Annually to Forex Transactions, Says AfCFTA Secretariat

World Bank Unveils IFC2030 Strategy to Boost Private Capital and Job Creation

Domestic Debt Surpasses External Debt for the First Time in Years

Aliko Dangote Becomes the First African to hit the $30 Billion Mark

Trending

Business

New UN Forum Aims to Tackle Developing Economies’ Debt Issues

October 23, 2025

New UN Forum Aims to Tackle Developing Economies' Debt Issues A new U.N.-supported forum designed to help...

Dangote Plans 10% Sale of Refinery Shares

October 23, 2025

CAL Bank’s Total Assets Drop by GHS 1.42bn in Q3 2025; CAR Remains Below Regulatory Threshold

October 23, 2025

Former First Lady Nana Konadu Agyeman-Rawlings Passes Away at 77

October 23, 2025

GFA President Commends Ghanaian Media, Calls For Continued Collaboration to Advance Football Development

October 23, 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.