Bank of Baroda was the most profitable in 2012. That’s according to the 2013 Ghana Banking Survey put together by accounting firm, Price Water House Coopers.
The Indian Bank stood tall amongst the 25 banks that were assessed on total income before tax. United Bank for Africa was second, up by five places from its position in 2011.
One bank that improved greatly profit-wise, was GCB. The bank leaped by 15 places to 8th on the 2012 profit rankings.
ECOBANK maintained its position as the biggest bank in the country in terms of assets, followed by GCB.
Lead author of the report, Oseini Amui tells Joy Business, Baroda was assessed according to the efficient management of its income.
Meanwhile, ECOBANK, GCB, Standard Chartered, Barclays, Stanbic Bank and Agricultural Development Bank maintained their position in the prestigious first quartile banks.
The group represents the five strongest banks in the country in terms of profits and assets.