Bank of Baroda adjudged most profitable bank in Ghana

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August 25, 2016 1:14 PM

General industry performance was also seen to have declined to GHC2.5 billion owing to an increased number of non-performing loans.

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Bank of Baroda, has for the second time, been adjudged most profitable bank by the Price Waterhouse Coopers Ghana Banking Survey Rankings.

The survey that ranked banks based on their financial performance for 2015, sampled the performance of 27 banks, with the Indian Bank of Baroda coming tops with 86% return on funds, and CAL Bank came second with a 52 percent return on funds managed.

The 2016 Ghana Banking Survey revealed that there were some shifts in the top or first quartile banks in the country.

There were some major movements in the ranking pertaining to elite banks in the country. For example, Standard Chartered Bank and Zenith Bank that are seen as elite banks based on their financial clout, dropped into the second quartile of the survey, which also includes UBA, Access Bank, National Investment Bank (NIB), Agricultural Development Bank (ADB) and Societe Generale.

Ecobank, GCB Bank, Stanbic, Fidelity and Unibank made the first quartile banks in the country. Ecobank maintained the top spot as the biggest bank in the country in terms of assets as the rankings showed that it has almost GH¢6 billion in total assets as at the end of 2015.

However, GCB came up as the bank with the highest non-performing loans among the first quartile banks with an industry deposits increased to Gh¢42 billion as at the end of December2015 from GH¢36 billion in 2014.

Ecobank again came on top as having the largest share of industry deposits and loan advances.

FBN Bank Ghana was ranked the number one of 27 banks when it comes to net interest margins whereas Royal Bank was more efficient in managing the loans it gave out.

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