DOCSLIB.ORG

Ghana-Banking-Survey-2019.Pdf

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Ghana-Banking-Survey-2019.Pdf Banking reforms so far: topmost issues on the minds of bank CEOs August 2019 www.pwc.com/gh Table of contents CSP’s message 2 GAB CEO’s message 4 Tax Leader’s message 5 1 Economy of Ghana 7 2 Survey analysis 12 3 Banking industry overview 35 4 Total operating assets 39 5 Market share analysis 44 6 Profitability and efficiency 56 7 Return to shareholders 64 8 Liquidity 69 9 Asset quality 79 Appendices 84 PwC 2019 Ghana Banking Survey 1 CSP’s message their banks thus far, as well as the those related to the new minimum challenges and opportunities that capital requirement: they foresee. ࡟ Heritage Bank Limited (HBL) and Highlights of the Premium Bank Ghana Limited (PBG) had their licences revoked. banking sector The reasons provided by BoG for the revocation of their licences reforms were insolvency in the case of Perhaps, one of the most significant Premium bank and questionable components of the banking sector source of capital for Heritage reforms is the new minimum capital bank. directive issued on 11 September ࡟ Bank of Baroda (BoB) “closed 2017. The directive required shop” and exited the market on universal banks operating in Ghana their own volition also for reasons Vish Ashiagbor to increase their minimum stated related to the new minimum capital to GHS400 million by the capital requirement. Country Senior Partner end of 2018. ࡟ BoG approved three mergers Following the deadline for involving six banks, effectively Background to this compliance, the changes in the accounting for three more exits. year’s survey banking sector have largely gone in The approved mergers are: 1. the direction expected – decrease First National Bank & GHL Bank Last year, we obtained and shared in number of banks – although Limited, 2. Energy Bank & First with you insights from bank the impact may not have been as Atlantic Bank and 3. Sahel - executives on how banks intended significant as first thought. The Sahara Bank & Omni Bank. to deploy increased capital obtained total number of banks currently Subsequent to the new minimum in compliance with the new capital operating as universal banks in capital directive, BoG and the requirement directive issued by Ghana stands at twenty-three (23). Government have undertaken some Bank of Ghana (BoG). This year’s In effect, the number of banks has complementary actions aimed at survey, a build-up on last year’s shrunk by eleven (11), representing a consolidating the expected gains survey, is premised on the wider 32% decline from the 34 banks that from the bank recapitalisation banking sector reforms being operated as universal banks prior exercise and supporting a wider driven by BoG with an overarching to the coming into effect of the new financial sector clean-up and objective of modernising and minimum capital directive. transformation. Whilst some strengthening the banking sector Out of the eleven (11) banks that of these were covered in our to adequately support economic exited the market following the GBS 2018, we have noted some growth and transformation. In this issuance of the new minimum additional ones that were initiated regard, our 2019 Ghana Banking capital directive, three were after the publication of our GBS Survey (GBS 2019) has been assessed as insolvent by BoG and 2018 report. These include: themed “Banking reforms so far: had their licenses revoked even topmost issues on the minds of ࡟ Directive for Voluntary Winding before the deadline for compliance. bank CEOs”. up of Banks and Specialised These are: UniBank Ghana Limited Deposit taking Institutions- The banking sector reforms date (UGL), The Beige Bank (TBB) and issued in September 2018. back to 2017, when BoG embarked The Royal Bank Limited (TRB). ࡟ Cyber and Information Security on a comprehensive reform agenda, Sovereign Bank Limited (SBL) and Directive- issued in October with the objective of cleaning up the The Construction Bank Limited 2018. banking industry and strengthening (TCB) had their banking licences the regulatory and supervisory revoked for obtaining them by ࡟ Directives for Forex Bureaux in framework for a more resilient false pretences through the use of Ghana- issued in October 2018. suspicious and non-existent capital, banking sector. Our survey sought ࡟ Finalisation of Corporate according to the Bank of Ghana. to obtain insights from bank CEOs Governance Directive 2018- and other top executives on the The remaining six have had to either issued in December 2018. impact the reforms have had on exit the market or merge with other ࡟ Creation of Ghana Amalgamated banks for various reasons, including Trust (GAT) Plc as a Special PwC 2019 Ghana Banking Survey 2 CSP’s message Purpose Vehicle (SPV) to support This, according to our survey supervision and compliance across the capital requirement of respondents, has placed banks in the industry in order to consolidate selected banks- January 2019. the position to partake in bigger and sustain the gains made so far. ticket transactions, which has the Going forward, banks will have to Impact of reforms so potential of expanding the asset properly streamline the various base of banks and increasing far: Views from CEOs aspects of their businesses, if their profitability. and other top bank they are to effectively manage ࡟ The view that investing the potentially complex web of executives significantly in technology and operational efficiency, liquidity and creating agile businesses over risk management issues, whilst Broadly, the outcome of our survey the medium term (i.e. digitisation) maintaining a desired level of suggests that, out of the several will be crucial for meeting profitability. Market research and reforms and emerging trends seen customer demands and growing strategy formulation, restructuring, in the banking sector over the profitability. digitisation, systems and process last couple of years, the capital Also, we noted that more than 80% improvement, data and analytics requirement directive; the full of the banks surveyed expect the and risk management represent implementation of the minimum performance of the economy to some of the key activities banks capital directive; and issues relating have the greatest impact on their may undertake to help achieve to digitisation have had the most performance in the medium term, targets around profitability, liquidity, impact on the banking business in with about half of the respondents risk management, asset growth, Ghana. expecting various Government capital adequacy, etc. Our Financial Indeed, our survey results indicates initiatives to drive revenue growth Services Industry Group has a that about 82% of respondents going forward. In contrast, banks wealth of knowledge and experience surveyed included the capital commonly have a less optimistic in these areas and are always requirement directive in their top view of the impact of regulations on available to share our expertise three most impactful reforms. The their business, believing they would with banks, investors and other full implementation of the minimum mostly lead to an increase in the interested stakeholders. Do contact capital directive also attracted cost of their operations. us on 0302 761 500. same level of priority from about A detailed discussion on our survey Happy reading! 73% of respondents, whilst about findings is presented in section 2 of 45% of respondents ranked issues this report. related to digitisation as part of their three most impactful reforms thus far. This observation, as noted Conclusion from our discussions with the bank With the deadline for complying executives, was underpinned by with the new minimum capital a number of factors, key amongst requirement now behind us, which include: the uncertainty that plagued ࡟ The need to undertake significant the banking sector during the processes and systems changes implementation period seems to to achieve upgrades in the areas have waned significantly. Amidst of stress testing, counterparty all the changes, compliance with risk and capital management various reforms, and a reduction in infrastructure, all in a bid to meet the number of banks with universal the capital requirement directive. banking licences, Ghana’s total banking sector operating assets ࡟ The expanded capital base (based on participating banks) of banks achieved through increased by 11.3% (from 2017) the implementation of the to GHS80.64 billion indicating a minimum capital directive, resilient sector. coupled with an increase in the value of the single obligor limit Having initiated most of the reforms on the back of increased net seen in the sector over the last two worth of banks following the years, we expect BoG will take injection of additional capital. the necessary steps to enhance PwC 2019 Ghana Banking Survey 3 GABCSP’s CEO’s message message The CEO’s message – Ghana Association of Bankers Ghana’s Financial Services sector adequate burden on the banks has attracted a lot of attention in the around risk management. last few years. Beginning with the Aside risk management, there Banking Sector, the Regulator (Bank are other regulatory steps being of Ghana), took steps not only to taken by the Bank of Ghana address the risks in the sector but around corporate governance, also prepare existing banks for the cybersecurity, payment systems etc. growth expected in the Ghanaian which I believe bank executives will economy. Bank of Ghana’s new spend some of their time dealing Capital Requirements Directive with. (CRD) increased the minimum Daniel Ato Kwamina Mensah regulatory monetary capital for Let me finally touch on technology, Chief Executive Officer, universal banking licence holders an area which is top of mind for Ghana Association of Bankers and became the focus of most bank most bank CEOs in my view. executives until the end of 2018. In a few years, I anticipate the digitisation of most banking After the capital raise, what is next? activities. Fintechs will change how What are bank executives thinking traditional banking business looks about now after having met the today.
Load more

Recommended publications
  • Ecobank Group Annual Report 2018 Building
    BUILDING AFRICA’S FINANCIAL FUTURE ECOBANK GROUP ANNUAL REPORT 2018 BUILDING AFRICA’S FINANCIAL FUTURE ECOBANK GROUP ANNUAL REPORT 2018 ECOBANK GROUP ANNUAL REPORT CONTENTS 05 Performance Highlights 08 Ecobank is the leading Pan-African Banking Institution 09 Business Segments 10 Our Pan-African Footprint 15 Board and Management Reports 16 Group Chairman’s Statement 22 Group Chief Executive’s Review 32 Consumer Bank 36 Commercial Bank 40 Corporate and Investment Bank 45 Corporate Governance 46 Board of Directors 48 Directors’ Biographies 53 Directors’ Report 56 Group Executive Committee 58 Corporate Governance Report 78 Sustainability Report 94 People Report 101 Risk Management 141 Business and Financial Review 163 Financial Statements 164 Statement of Directors’ Responsibilities 165 Auditors’ Report 173 Consolidated Financial Statements 178 Notes to Consolidated Financial Statements 298 Five-year Summary Financials 299 Parent Company’s Financial Statements 305 Corporate Information 3 ECOBANK GROUP ANNUAL REPORT 3 PERFORMANCE HIGHLIGHTS 5 ECOBANK GROUP ANNUAL REPORT PERFORMANCE HIGHLIGHTS For the year ended 31 December (in millions of US dollars, except per share and ratio data) 2018 2017 Selected income statement data Operating income (net revenue) 1,825 1,831 Operating expenses 1,123 1,132 Operating profit before impairment losses & taxation 702 700 Impairment losses on financial assets 264 411 Profit before tax 436 288 Profit for the year 329 229 Profit attributable to ETI shareholders 262 179 Profit attributable per share ($): Basic
    [Show full text]
  • Financial and Investment Market Update
    Financial and Investment Market Update This article provides an objective account of events and developments in Ghana’s financial sector since January 2017. It briefly details the developments and challenges, which the 2017-2019 banking sector reforms have brought, as well as its impact on financial sector players. In the spirit of transparency and in keeping with our fiduciary responsibility to our clients, an educative article of this nature becomes necessary, especially as financial sector players work to overcome the challenges that have come with the banking sector reforms. Fallouts of the 2017-2019 Banking Sector Reforms The financial sector has been experiencing extreme turbulence following the financial system cleanup which begun in 2017 with the collapse of UT Bank and Capital Bank on August 14, 2017. The aforementioned banks were subsequently absorbed by GCB Bank. A Receiver was also appointed to take over some of the assets of the two banks. The Bank of Ghana further revoked the licenses of Sovereign Bank, UniBank, Beige Bank, Royal Bank and Construction Bank on August 1, 2018. Out of these defunct banks, the Consolidated Bank Ghana Ltd (CBG) was established and commenced operations with a capital of GHS 400 million. The Government of Ghana is the sole shareholder and a Receiver was appointed to take over some of the assets of these five banks. GhanaHowever, Limited. the Bank of Ghana on January 4, 2019 revoked the licenses of Heritage Bank and Premium Bank. These two banks were added to the list of Banks that constituted the Consolidated Bank Also, the Bank of Ghana proceeded to accept and approve an application for a Savings and Loans license by GN Bank, after it failed to meet the new minimum required capital of GHS400 million, whereas the Bank of Baroda voluntarily applied for winding-up.
    [Show full text]
  • Annual Report 2014 Prepared and Edited by the Editorial Committee Bank of Ghana
    Annual Report 2014 Prepared and Edited By The Editorial Committee Bank of Ghana P. O. Box GP 2674, Accra Also available on the Bank’s Website: www.bog.gov.gh ISSN: 0855-0972 CONTENTS MANDATE OF THE BANK iv 5.0 INTERNAL DEVELOPMENTS 27 FOREWORD BY THE GOVERNOR 1 BOARD OF DIRECTORS 2 5.1 Overview 27 MANAGEMENT OF THE BANK 3 5.2 Collateral Registry 27 ORGANISATIONAL STRUCTURE 4 5.3 Health 27 5.4 Human Resource Activities 27 1.0 GOVERNANCE 5 5.5 Training 28 5.6 Security 28 1.1 The Board of Directors 5 5.7 Study Visits 28 1.2 Membership of the Board 5 5.8 ISO 27001:2005 Certification 28 1.3 Committees of the Board 5 --------------------------------------------------------------------- 1.4 The Monetary Policy Committee 6 6.0 EXTERNAL RELATIONS 29 --------------------------------------------------------------------- 2.0 DEVELOPMENTS IN THE GLOBAL ECONOMY 7 6.1 Overview 29 6.2 International Monetary Fund and the 2.1 Overview 7 World Bank Meetings 29 2.2 World Output Growth 7 6.3 Association of African Central Banks (AACB) 30 2.3 Global Prices 7 6.4 African Export-Import Bank (AFREXIMBANK) 30 2.4 Commodities Market 8 6.5 The African Development Bank (AfDB) 31 --------------------------------------------------------------------- 6.6 West African Monetary Zone (WAMZ) 31 3.0 DEVELOPMENTS IN THE GHANAIAN 6.7 The West African Monetary Agency (WAMA) 32 ECONOMY 9 6.8 West African Institute for Financial and Economic Management (WAIFEM) 33 3.1 Overview 9 --------------------------------------------------------------------- 3.2 Monetary Policy 9 7.0 FINANCIAL
    [Show full text]
  • Annual Report 2013
    NATIONAL INVESTMENT BANK 2013 Annual Report Your Business is Our Business National Investment Bank Limited | 2013 Annual Report [email protected] 2 www.nib-ghana.com National Investment Bank Limited | 2013 Annual Report CONTENTS Notice and Agenda of Annual General Meeting 04 Corporate Information 05 Chairman’s Statement 07 Managing Director’s Statement 10 Prole of Board of Directors 12 Report of Directors 16 Financial Highlights 17 Independent Auditor’s Report 25 Statement of Comprehensive Income 27 Statement of Financial Position 29 Statement of Changes in Equity 30 Statement of Cash Flows 31 Notes to Financial Statements 63 Proxy Form 99 Head Oce and Branches 102 List of Correspondent Banks 104 Your business is Our Business 3 National Investment Bank Limited | 2013 Annual Report NOTICE AND AGENDA OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 45th Annual General Meeting of the National Investment Bank Limited will be held at the La-Palm Royal Beach Hotel, Accra at 10:00 a.m. on Thursday, 12th June, 2014 to transact the following business: 1. To receive and consider the Financial Statements for the year ended 31st December, 2013, together with the Reports of the Directors and Auditors thereon. 2. To elect / re-elect Directors 3. To approve Directors‘ Fees 4. To authorize the Directors to determine the remuneration of the Auditors. Dated this 12th Day of May, 2014. BY ORDER OF THE BOARD. Frank S. Aidoo Board Secretary NOTE: A member entitled to attend and vote may appoint a proxy who need not be a member of the Bank.
    [Show full text]
  • A Thesis Presented to the School of Arts and Communication, Malmö University; in Partial Fulfilment of the Requirements for the Award of Master of Arts (M.A.) Degree
    1 UNIVERSITY OF MALMÖ SWEDEN FACULTY OF CULTURE AND SOCIETY (SCHOOL OF ARTS AND COMMUNICATION) M.A. THESIS HOW CAN ICTs AND NEW/SOCIAL MEDIA REMEDY THE PROBLEM OF VITAL STATISTICS DEFICIENCIES IN GHANA? (THE CASE OF GHANA BIRTHS AND DEATHS REGISTRY DEPARTMENT): A THESIS PRESENTED TO THE SCHOOL OF ARTS AND COMMUNICATION, MALMÖ UNIVERSITY; IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE AWARD OF MASTER OF ARTS (M.A.) DEGREE. BY STEPHEN BAIDOO SUPERVISED BY: Ms. Helen Hambly Odame(PhD). Associate professor, University of Guelph, Canada. JUNE, 2012 2 CONTENT TABLE OF CONTENT…………………………………………………………………………………………….. 2 DECLARATION……………………………………………………………………………………………………….5 DEDICATION………………………………………………………………………………………………………….5 ACKNOWLEDGEMENT ............................................................................................6 PREFACE………………………………………………………………………………………………………………..7 CHAPTER 1: INTRODUCTION 1.0. GENERAL INTRODUCTION…………………………………….……………………………………9 1.1. PREVIOUS STUDY………………………………………………………………………………………..9 1.2. CURRENT STUDY…………………………………………………..………………………………..….11 1.3. THE GOAL OF THIS STUDY………………………………………………………..…………………12 1.4. RESEARCH OBJECTIVES…………………………………………………….…………………………12 1.5. RESEARCH QUESTIONS/HYPOTHESES…………………………………..……………………..13 1.6. IMPORTANCE OF THIS STUDY……………………………………………………………………….13 1.7. PROJECT RELEVANCE TO COMDEV…………………………………………..………………….14 1.8. FIELD PROBLEMS ENCOUNTERED………………………………………………….…………..,.14 CHAPTER 2. THEORY AND CONCEPT 2.0. INTRODUCTION………………………………………………………………………..………………………15 2.1.0. THEORITICAL FRAMEWORK……………………………………………………………………………15
    [Show full text]
  • Gcb Bank Limited Annual Report 2017 2
    1 GCB BANK LIMITED ANNUAL REPORT 2017 2 VISION We aspire to be Ghana’s favorite Bank and one of the most recognised and preferred fi nancial service brands in Africa and beyond MISSION Our mission is to provide friendly, helpful and accessible banking services, combined with expert fi nancial solutions that help people and businesses realize their goals. GCB BANK LIMITED ANNUAL REPORT 2017 3 CONTENTS 4 Corporate Information 5 Notice of Annual General Meeting 7 Board of Directors 8 Profi les of the Board of Directors 12 Financial Highlights 13 Five Year Financial Summary 16 Chairman’s Statement 20 Managing Director’s Review 24 Report of the Directors 28 Corporate Governance 33 Independent Auditor’s Report 37 Statements of Comprehensive Income 39 Statements of Financial Position 40 Statements of Changes in Equity 43 Statements of Cash Flows 45 Notes to the Financial Statements 130 Appendix 1 - Value Added Statement 131 Appendix 2 - Shareholder Information 134 List of Branches 145 Invitation and Form of Proxy GCB BANK LIMITED ANNUAL REPORT 2017 CORPORATE INFORMATION 4 Corporate Information BOARD OF DIRECTORS Mr. Jude Kofi Arthur (Chairman) Mr Anselm Ransford Adzete Sowah (Managing) Mr. Socrates Afram Mr. Samuel Amankwah Appointed 25/10/17 Mrs. Lydia Gyamera Essah Mr. Nik Amarteifi o Appointed 07/06/17 Mr. Richard Oppong Appointed 07/06/17 Nana Ama Ayensua Saara III Appointed 07/06/17 Mr. Francis Arthur-Collins Appointed 25/10/17 Mr. Osmani Aludiba Ayuba Appointed 25/10/17 Mr. Ray Ankrah Appointed 25/10/17 Mr. Kofi Worlanyo Resigned 03/04/17 Mr.
    [Show full text]
  • Abdul-Nashiru Issahaku: Developing Ghana's Banking System
    Abdul-Nashiru Issahaku: Developing Ghana’s banking system Speech by Dr Abdul-Nashiru Issahaku, Governor of the Bank of Ghana, at the inauguration of the Sunyani regional office building, Sunyani, 30 June 2016. * * * Nananom Board of Directors of Bank of Ghana Representatives of Banks in the Brong-Ahafo Region Representatives of Security Agencies in the Brong -Ahafo Region Heads of Departments Regional Managers My cherished members of staff Distinguished ladies and gentlemen Good morning I am delighted to welcome you all to the inauguration of our new Sunyani Regional Office building. Let me sincerely thank the Chiefs and people of Sunyani, in fact, the Brong Ahafo Region for making the land available to us. This is a clear indication of the support and collaboration between the Bank and the Chiefs. And let me also take this opportunity to thank the immediate past Governor of the Bank of Ghana Dr. Henry Kofi Wampah for spearheading this project and seeing to its completion. As we may all be aware, prior to the construction of this ultra-modern office complex, the Sunyani Regional Office had operated from the second floor of a building whose lower floors were occupied by GCB Bank. The regulator sharing office with the client is not ethically sound and exposes the Bank to familiarity threats. In addition, the former Office did not have a banknote processing capacity and depended on the Kumasi Regional Office for the processing of its deposits as well as fit-sorting banknotes for re-issuance to banks and other financial institutions in its catchment area.
    [Show full text]
  • Digital Access: the Future of Financial Inclusion in Africa Acronyms
    DIGITAL ACCESS: THE FUTURE OF FINANCIAL INCLUSION IN AFRICA ACRONYMS ADC Alternative Delivery Channel ISO International Organization for Standardization AFSD African Financial Sector Database IT Information Technology ARPU Average Revenue Per User KES Kenyan Shilling API Application Programming Interface KPI Key Performance Indicator ATM Automated Teller Machine KYC Know Your Customer B2P Business to Person LAPO MfB Lift Above Poverty Organization BCEAO Central Bank of West Africa (Banque Centrale Microfinance Bank des Etats de l’Afrique de l’Ouest) M-banking Mobile Banking BOI Banking Operations Intermediary M-wallet Mobile Wallet BVN Bank Verification Number MFI Microfinance Institution CEO Chief Executive Officer MM Mobile Money CBA Commercial Bank of Africa MSME Micro, Small and Medium Enterprise CBN Central Bank of Nigeria MTN Mobile Telephone Network CFA West African Franc, or Central African Franc MNO Mobile Network Operator CGAP Consultative Group to Assist the Poor MVNO Mobile Virtual Network Operator CRM Customer Relationship Management NFC Near Field Communication DFS Digital Financial Services OTC Over the Counter DJ Disc Jockey P2B Person to Business DVD Digital Versatile Disc P2P Person to Person E-banking Electronic Banking PC Personal Computer EFT Electronic Funds Transfer PIN Personal Identification Number EMI e-Money Issuer POS Point of Sale E-money Electronic Money PSP Payment Service Provider E-wallet Electronic Wallet E-warehousing Electronic Warehousing QR Quick Response FCMB First City Monument Bank RCT Randomized
    [Show full text]
  • Pension-Fund-Custodians-In
    NATIONAL PENSIONS REGULATORY AUTHORITY NPRA PUBLIC NOTICE á LIST OF REGISTERED PENSIONS FUND CUSTODIANS THAT HAVE FULFILLED THE PRESCRIBED REQUIREMENTS OF THE AUTHORITY FOR THE 2019 AUTHORISATION PROCESS. THE LICENCES ARE VALID UNTIL 31ST JULY, 2020 LICENCE / TELEPHONE NO. NAME OF SERVICE PROVIDER REGISTRATION PHYSICAL ADDRESS CONTACT PERSON NUMBERS NO. 1. Agricultural Development FC12005 Accra Financial Elorm Aidam 0244-253181 Bank Centre, 3rd Ambassadorial Development Area, Ridge-Accra 2. First Atlantic Bank Limited FC15001 Atlantic Place No. 1 Yvonne Oppong- 0541-704753 Seventh Avenue, Ayisi Ridge West, Accra 3. Standard Chartered Bank FC12002 Standard Chartered Beverly Frimpong 0202-023933 Ghana Limited Bank Head Office #Independence Avenue 4. Republic Bank Ghana FC12006 No 48A Sixth Audrey Smith 0208-737616 Limited Avenue, North Dadzie Ridge, Accra 5. Fidelity Bank Ghana Limited FC12011 1st Floor, Ridge Rebecca Gyebi 0544-338784 Towers, Accra Elias Augustine 0576-036467 Dey 6. Ecobank Ghana Limited FC12001 Ecobank Ghana Vera-Marie Ayitey- 0244-483036 Head Office, Accra Smith 7. Cal Bank Limited FC12004 No. 23 Nan Opoku (Ms.) 0244-601170 Independence Avenue-Accra Website: www.npra.gov.gh , e-mail: [email protected] “Ensuring Retirement Income Security” NATIONAL PENSIONS REGULATORY AUTHORITY NPRA PUBLIC NOTICE á LICENCE / TELEPHONE NO. NAME OF SERVICE PROVIDER REGISTRATION PHYSICAL ADDRESS CONTACT PERSON NUMBERS NO. 8. Stanbic Bank Ghana Limited FC12003 Stanbic Heights, Eunice Amoo- 0244-333145 Airport City, Accra Mensah 9. Zenith Bank Ghana Limited FC12013 31 Independence Alvin Abbah-Foli 0242-729012 Avenue, Accra 10. Prudential Bank Limited FC12007 8 John Harmond Seth Kyeremeh 0244-762652 Street, Ring Road Central, Accra 11.
    [Show full text]
  • The Determinants of Bank's Profitability in Ghana, The
    The Determinants of Bank’s Profitability in Ghana, The Case of Merchant Bank Ghana Limited (MBG) and Ghana Commercial Bank (GCB) By Anthony Kofi Krakah & Aaron Ameyaw Henrik Sällberg (Supervisor) Master’s Thesis in Business Administration, MBA programme 2010 Table of Contents Table of Contents ............................................................................................................................................ i ABSTRACT ...................................................................................................................................................... v ACKNOWLEDGEMENT ........................................................................................................................................ vi CHAPTER ONE ............................................................................................................................................... 1 1.0 INTRODUCTION ...................................................................................................................................... 1 An overview of the banking industry in Ghana ..................................................................................................... 3 1.2 Background of the banks ......................................................................................................................... 6 Global Banking Industry .................................................................................................................. 12 Statement of the problem ..........................................................................................................................
    [Show full text]
  • Ghana Fixed Income Market Summary of Status Report
    GHANA FIXED INCOME MARKET SUMMARY OF STATUS REPORT JUNE 2019 1 MEMBERSHIP GFIM as at the end of June 2019 has 41 registered members categorized as follows: LICENSED DEALING MEMBERS PRIMARY DEALER BANKS 1. African Alliance Securities Limited 1. Access Bank Ghana Limited 2. Black Star Brokerage Limited 2. ARB Apex Bank 3. Bullion Securities Limited 3. Barclays Bank Ghana Limited 4. Cal Brokers Limited 4. Cal Bank Ghana Limited 5. CDH Securities Limited 5. Consolidated Bank Ghana Limited 6. Databank Brokerage Limited 6. Ecobank Ghana Limited 7. EDC Stockbrokers Limited 7. Fidelity Bank Ghana Limited 8. Gold Coast Brokerage Limited 8. GCB Bank Limited 9. Republic Securities Ghana Limited 9. Guaranty Trust Bank Ghana Limited 10. IC Securities Limited 10. Societe Generale Ghana Limited 11. Liberty Securities Limited 11. Stanbic Bank Limited 12. NTHC Ltd 12. Standard Chartered Bank Limited 13. Prudential Stockbrokers Limited 13. Universal Merchant Bank 14. SBG Securities Ghana Limited 15. SIC Financial Services Limited 16. Strategic African Securities Limited 17. UMB Stock Brokers Ltd NON - PRIMARY DEALER BANKS 1. Agricultural Development Bank 2. Bank of Africa Ghana Ltd 3. First Atlantic Bank Ghana Ltd 4. First National Bank Limited 5. FBN Bank Ghana Ltd 6. National Investment Bank 7. Prudential Bank Limited 8. Republic Bank Ghana Limited 9. Sahel Sahara Bank Ghana Limited 10. UBA Ghana Limited 11. Zenith Bank Ghana Ltd 2 SUMMARY OF SECURITIES Benchmark Securities: 9 3yr Government bond- 1 5yr Government bond- 5 7yr Government bond- 1 10yr Government bond- 1 15yr Government bond- 1 Non-Benchmark Securities: 20 3yr Government bond-10 5yr Government bond- 5 6yr Government bond- 1 7yr Government bond- 3 10yr Government bond-1 Treasury Notes: 34 1yr Government note- 16 2yr Government note- 18 Treasury Bills: 64 364 day bill- 13 182 day bill- 25 91 day bill- 12 Ghana Cocoa Bill- 14 Local US dollar 3-year bond-1 Eurobond-9 Corporate Bonds AFB Ghana Plc 18 Bayport Financial Services (Ghana) 9 Edendale Properties 2 Izwe Loans Ghana 6 PBC Ghana Limited 1 E.S.L.A.
    [Show full text]
  • RESTRICTED WT/TPR/S/298 16 April 2014 (14-2369) Page
    RESTRICTED WT/TPR/S/298 16 April 2014 (14-2369) Page: 1/105 Trade Policy Review Body TRADE POLICY REVIEW REPORT BY THE SECRETARIAT GHANA This report, prepared for the fourth Trade Policy Review of Ghana, has been drawn up by the WTO Secretariat on its own responsibility. The Secretariat has, as required by the Agreement establishing the Trade Policy Review Mechanism (Annex 3 of the Marrakesh Agreement Establishing the World Trade Organization), sought clarification from Ghana on its trade policies and practices. Any technical questions arising from this report may be addressed to Jacques Degbelo (tel.: 022 739 5583) and Catherine Hennis-Pierre (tel.: 022 739 5640). Document WT/TPR/G/298 contains the policy statement submitted by Ghana. Note: This report is subject to restricted circulation and press embargo until the end of the first session of the meeting of the Trade Policy Review Body on Ghana. This report was drafted in English. WT/TPR/S/298 • Ghana - 2 - CONTENTS SUMMARY ........................................................................................................................ 7 1 ECONOMIC ENVIRONMENT ........................................................................................ 10 1.1 Major Features of the Economy .................................................................................. 10 1.2 Recent Economic Developments.................................................................................. 13 1.3 Developments in Trade and Foreign Direct Investment ..................................................
    [Show full text]