{"id":127088,"date":"2023-12-04T11:02:03","date_gmt":"2023-12-04T11:02:03","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/12\/04\/absa-bank-ghana-was-most-profitable-bank-in-quarter-3-2023\/"},"modified":"2023-12-04T11:02:03","modified_gmt":"2023-12-04T11:02:03","slug":"absa-bank-ghana-was-most-profitable-bank-in-quarter-3-2023","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/12\/04\/absa-bank-ghana-was-most-profitable-bank-in-quarter-3-2023\/","title":{"rendered":"Absa Bank Ghana was most profitable bank in quarter 3, 2023 \u2013"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Absa Bank Ghana was the most profitable bank in Ghana in the third quarter of 2023, PwC\u2019s quarterly analysis of the banking industry report has revealed.<\/p>\n<p>This report is coming on the back of the Domestic Debt Exchange Programme.<\/p>\n<p>According to the report, Absa Bank Ghana recorded an increase in year-on-year profit by 103.5% to \u00a21.506 billion in the first nine months of 2023.<\/p>\n<p>It was followed by Stanbic Bank Ghana with quarter 3, 2023, profit of \u00a21.18 billion (84.1% growth year-on-year).<\/p>\n<p>Guaranty Trust (GT) Bank came 3rd with a profit of \u00a2847.5 million (57.7% year-on-year increase).<\/p>\n<p>GCB Bank (\u00a2830.8 million), Standard Chartered (\u00a2820.8 million), and Ecobank Ghana (\u00a2790.4 million) came 4<sup>th<\/sup>, 5<sup>th,<\/sup>\u00a0and 6<sup>th<\/sup>\u00a0respectively.<\/p>\n<p>The least profitable bank was First National Bank, with a 103% decline in profit to about \u00a2400,000.<\/p>\n<p>However, all the banks registered profits in the first nine months of 2023.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/12\/absa-1024x558.png\" alt=\"\" class=\"wp-image-10032423517\"\/><\/figure>\n<p><strong>GT Bank most efficient bank<\/strong><\/p>\n<p>For efficiency, GT Bank (19.0%) was the most efficient bank in terms of cost-to-income ratio in quarter 3, 2023.<\/p>\n<p>It was followed by UBA (25.7%) and Absa Bank Ghana (29.4%).<\/p>\n<p>The lowest-ranked efficient bank was Consolidated Bank Ghana (121.3%).<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/12\/efficiency-1024x574.png\" alt=\"\" class=\"wp-image-10032423518\"\/><\/figure>\n<p><strong>Ecobank Ghana remains biggest bank<\/strong><\/p>\n<p>For the market share, Ecobank Bank remained the biggest bank in Ghana, controlling the banking industry deposits by 13.1% as of September 30, 2023.<\/p>\n<p>It was followed by GCB Bank and Stanbic Bank Ghana with 10.5% and 9.2% market share respectively.<\/p>\n<p>The three banks also controlled the industry loans and advancement with a total share of 34.2%.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/12\/Industry.png\" alt=\"\" class=\"wp-image-10032423520\"\/><\/figure>\n<p><strong>Source<\/strong>:\u00a0<a>Joy Business<\/p>\n<p><!-- AI CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Absa Bank Ghana was the most profitable bank in Ghana in the third quarter of 2023, PwC\u2019s quarterly analysis of the banking industry report has revealed. This report is coming on the back of the Domestic Debt Exchange Programme. According to the report, Absa Bank Ghana recorded an increase in year-on-year profit by 103.5% to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":127089,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-127088","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Absa Bank Ghana was most profitable bank in quarter 3, 2023 \u2013 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2023\/12\/04\/absa-bank-ghana-was-most-profitable-bank-in-quarter-3-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Absa Bank Ghana was most profitable bank in quarter 3, 2023 \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Absa Bank Ghana was the most profitable bank in Ghana in the third quarter of 2023, PwC\u2019s quarterly analysis of the banking industry report has revealed. 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