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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 ........................................................................................................................... 14 Research Questions .................................................................................................................................... 15 Objective ............................................................................................................................................... 16 Hypothesis .............................................................................................................................................. 16 Scope of the study .................................................................................................................................... 17 Porter’s Approach to Resource Base View (RBV) .................................................................................................. 25 CHAPTER THREE ........................................................................................................................................... 27 METHODOLOGY ........................................................................................................................................ 27 Data Source ............................................................................................................................................ 27 Sampling or selection of Banks ..................................................................................................................... 27 The size of the banks in the Ghanaian economy ................................................................................................. 27 Years of Existence ..................................................................................................................................... 28 Market Share .......................................................................................................................................... 28 Nature of business .................................................................................................................................... 28 Model ................................................................................................................................................... 29 Dependent variable ................................................................................................................................... 29 Independent variable ................................................................................................................................. 29 Justification for the choice of variables ............................................................................................................ 30 Theoretical model ..................................................................................................................................... 32 Model diagnosis ....................................................................................................................................... 33 Multicollinearity Diagnosis ............................................................................................................................ 33 Heteroskedasticity Diagnosis ......................................................................................................................... 34 Autocolleration Diagnosis ............................................................................................................................. 34 Empirical model ....................................................................................................................................... 35 Table 1: Descriptive of the variables used in the regression models. .......................................... 36 Hypothesis Testing .................................................................................................................................... 37 ANALYSIS AND DISCUSSION OF RESULTS ............................................................................................................ 40 Table 2: Summary statistics ...................................................................................................................... 41 Regression analysis .................................................................................................................................... 42 Table 3: ANOVA ................................................................................................................................... 42 Empirical model ................................................................................................................................... 44 Table 5: General Empirical model (Both Endogenous and Exogenous)..................................................................... 44 Table 6: Separate Empirical Models ............................................................................................................. 45 Exogenous ................................................................................................................................... 45 Endogenous empirical model .................................................................................................... 46 Exogenous empirical model ....................................................................................................... 46 Model Diagnosis ....................................................................................................................................... 50 Table 7: Correlation Matrix 1 ................................................................................................................... 51 ii Table 9: Correlation Matrix ...................................................................................................................... 53 CHAPTER FIVE ............................................................................................................................................. 56 5.0 CONCLUSION AND RECOMMENDATION .............................................................................................................. 56 REFERENCES ............................................................................................................................................... 58 APPENDIX 1: Table 9: Data set .......................................................................................................... 61 iii INDEX Abb Full name ABL Amalgamated Bank Limited ADB Agricultural Development Bank BARODA Bank of Baroda BBGL Barclays Bank Ghana Limited BSIC Banque Sahelo-Saharienne Pour L'investissement et le Commerce CAL Cal Bank Limited EBG Ecobank Ghana Limited FAMBL First Atlantic Merchant Bank Limited FIDELITY Fidelity Bank Limited GCB Ghana Commercial Bank GTB Guaranty Bank Ghana Limited HFC HFC Bank Limited IBG Intercontinental Bank Limited ICB International Commercial Bank MBG Merchant Bank Ghana Limited NIB National Investment Bank PBL Prudential Bank Limited SCB Standard Chartered Bank SG-SSB SG-SSB Limited STANBIC Stanbic Bank Ghana Limited TTB The Trust Bank Limited UBA United Bank for Africa (Ghana) Limited UGL Unibank Ghana Limited UTB UT Bank Limited ZBL Zenith Bank Ghana Limited iv ABSTRACT The financial world today is gradually becoming a global village in itself. The level of offshore banking in both developing and developed countries today is evidence to this fact. Since the financial wheel is critical in any development paradigm, the role of banks is even more critical. Therefore the survival and performance of banks is of much interest not only to policy makers and shareholders, but to researchers too. The intriguing report that banks in Sub-Sahara Africa as a whole make much profit than those in the developed world (Valentina Flamini et al., 2009) calls for some introspection to verify the case of Ghana. It is in this light that we employed regression analysis to estimate and examine the determinants of the profitability of commercial in banks, by examining the drivers
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