DOCSLIB.ORG

Weekly Market Watch Sic-Fsl Investment+ Research| Market Reviews|Ghana

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Weekly Market Watch Sic-Fsl Investment+ Research| Market Reviews|Ghana WEEKLY MARKET WATCH SIC-FSL INVESTMENT+ RESEARCH| MARKET REVIEWS|GHANA 30th October, 2014 STOCK MARKET STRONG THIRD QUARTER RESULTS BOOST MARKET’S PERFORMANCE INDICATORS WEEK OPEN WEEK END CHANGE Activities on the Ghana Stock Exchange (GSE) intensified last week, as impressive third quarter (Q3’2014) results by listed Market Capitalization (GH¢ companies’ fuelled demand for shares. In the light of the 'million) 64,284.41 64,701.81 0.65% Market Capitalization (US$' above, the yield on the benchmark equity index settled at million) 20,115.91 20,247.79 0.66% 28.82 points which was better than previous week’s level. Volume traded (shares) 1,107,060.00 1,425,617.00 28.78% The rise in performance appeared to have been incited by Value Traded (GH¢) 3,308,430.81 6,168,237.49 86.44% the release of better-than-expected Q3’2014 earnings reported by listed companies over the week. Companies like Value Traded (US$) 1,035,275.78 1,930,288.68 86.45% GCB Bank limited (GCB), CAL Bank Limited, Societe General Table 1: Market Summary (Ghana) Limited (SOGEGH), Fan Milk Limited, Ecobank INDEX ANALYSIS Ghana Limited (EBG), Ecobank Transnational Incorporated and Starwin Product Limited (SPL) showed some positive INDICATORS Closing Week YTD bottom-line performances per their Q3’14 results despite the Level Change CHANGE incomparable high cost of operations in that period. Investors, in view of the aforementioned increased their bids for shares, GSE Composite Index 2,249.27 1.30% 4.85% as prices of equities push up in that regard. SIC-FSL Top 15 Index 4,169.43 2.63% 20.65% In effect, the yield on the GSE Composite index closed at GSE Financial Stocks Index 2,192.90 1.77% 22.74% 4.85% from 3.51% a fortnight ago. Similarly, the yield on Table 2: Key Stock Market Indices financial stocks (GSE-FSI) and liquid stocks (SIC-FSL T-15) also went up by 20.61% and 17.56% each, to close the week at LIQUIDITY 22.74% and 20.65% respectively. Total shares traded were comparatively better than the previous week’s activities . The aggregate volume of shares traded jumped by 28.78% to settle at 1.43 million shares, corresponding value traded also increased by 86.44% to settle at 6.17 million. Market activities were hugely centered within the financial stocks, as the sector contributed a total 1.30 million of total shares traded which represented 90.99% of the traded shares. GCB Bank Limited recorded the highest activity in the week, with a contribution of 1.0 million, which translates into 70.37% of the total shares trades. In all, twenty four (24) out of the thirty seven (37) listed equities were active in the week. Fig 1: Year-to-date returns MARKET MOVERS ETI’s returns to GH¢0.34 Ecobank Transnational Incorporated (ETI); the bank with the biggest STOCK Wk Open Wk End Change % TICKER change bank coverage across Africa, emerged the best performing stock market last week. ETI gained 6.25% in value to settle at GH¢0.34 per BOPP 3.84 3.96 0.12 3.13% share due to high demand for the company’s shares. CAL 0.97 0.99 0.02 2.06% In spite of the 2-pesewas rise in the absolute value of the Bank, the EBG 7.12 7.13 0.01 0.14% stock remained heavily underpriced, as it continued to trade at a discount of 6% of its book value per share price of GH¢0.36 on the ETI 0.32 0.34 0.02 6.25% exchange. GCB 5.24 5.29 0.05 0.95% BOPP touches GH¢3.96 GGBL 3.12 3.13 0.01 0.32% The agri-business firm, Benso Oil Palm Plantation (BOPP) touched a new PZC 0.39 0.40 0.01 2.56% record price of GH¢3.96 per share last week. The value of the oil palm company increased by 3.13% from GH¢3.84 a week earlier to SCB 18.48 18.83 0.35 1.89% GH¢3.96 a share last Thursday. SOGEGH 0.83 0.85 0.02 2.41% According to analyst, the rise might have been caused by speculations UTB 0.25 0.26 0.01 4.00% on the world market that prices of palm oil will increase in the coming days. Appetite in the company’s stocks increased, as investors intensified Table 3: Gainers for the week bids for the company’s shares. UTB trims down losses UT Bank (UTB) last Thursday, rose to GH¢0.26 per share, after it STOCK Wk Open Wk End Change % dropped to GH¢0.25 the week before. TICKER change EGL 1.64 1.63 -0.01 -0.61% The rise appeared to have been triggered by demand for the company’s shares following the huge prospects investors anticipates in FML 4.90 4.89 -0.01 -0.20% the company within a foreseeable future. HFC 1.30 1.29 -0.01 -0.77% Table 4: Laggards for the week Fig 2: Top 5 most liquid equities with respect to volume traded Stock Ticker Year Opening Closing Price @ YTD Gain/Loss (%) Price(GH¢) 30/10/2014 (GH¢) African Champion Industries Ltd. ACI 0.06 0.03 -50.00% AngloGold Ashanti Ltd. AGA 37.00 37.00 0.00% Aluworks Limited ALW 0.05 0.04 -20.00% Ayrton Drug Manufacturing Ltd. AYRTN 0.17 0.17 0.00% Benso Oil Palm Plantation BOPP 3.21 3.96 23.36% Cal Bank Ltd CAL 0.97 0.99 2.06% Clydestone (Ghana) Ltd. CLYD 0.04 0.03 -25.00% Camelot Ghana Ltd. CMLT 0.16 0.12 -25.00% Cocoa Processing Co. Ltd. CPC 0.02 0.01 -50.00% Ecobank Ghana Ltd. EBG 5.61 7.13 27.09% Enterprise Group Limited EGL 1.88 1.63 -13.30% Ecobank Transnational Inc. ETI 0.19 0.34 78.95% Fan Milk Ltd. FML 6.62 4.89 -26.13% Ghana Commercial Bank Ltd. GCB 4.85 5.29 9.07% Guinness Ghana Breweries Ltd. GGBL 6.20 3.13 -49.52% Ghana Oil Company Limited GOIL 0.89 0.99 11.24% Golden Star Resources Ltd. GSR 2.75 2.34 -14.91% Golden Web Ltd. GWEB 0.04 0.03 -25.00% HFC Bank (Ghana) Ltd. HFC 0.96 1.29 34.38% Mega Africa Capital Ltd MAC 3.10 3.59 15.81% Mechanical Lloyd Co. Ltd. MLC 0.38 0.26 -31.58% Pioneer Kitchenware Ltd. PKL 0.06 0.06 0.00% Produce Buying Company Ltd. PBC 0.17 0.14 -17.65% PZ Cussons Ghana Ltd. PZ 0.79 0.40 -49.37% Standard Chartered Bank (GH) Ltd.* SCB 14.94 18.83 26.04% SIC Insurance Company Ltd. SIC 0.39 0.43 10.26% Starwin Products Ltd. SPL 0.04 0.03 -25.00% Societe Generale Ghana Limited SOGEGH 0.75 0.85 13.33% Sam Woode Ltd. SWL 0.03 0.04 33.33% Trust Bank Ltd. (The Gambia) TBL 0.35 0.30 -14.29% Total Petroleum Ghana Ltd. TOTAL 5.06 6.10 20.55% Transaction Solutions (Ghana) Ltd. TRANSOL 0.03 0.03 0.00% Tullow Oil Plc TLW 34.98 36.00 2.92% Unilever Ghana Ltd. UNIL 18.31 14.00 -23.54% UT Bank UTB 0.45 0.26 -42.22% AngloGold Ashanti Depository Shares AADS 0.52 0.52 0.00% Standard Chartered Bank Preference shares SCB PREF 0.52 0.58 11.54% NewGold Exchange Traded Fund GLD 26.13 22.40 -14.27% Table 5: Performance of listed equities from year open CEDI LOSES ON S&P’s REPORT CURRENCY MARKET Report on Ghana’s credit worthiness by the Standard and Poor’s (S&P) saw the local currency lose its traction against its trading EXCHANGE RATES BUYING SELLING YTD allies last week. The Cedi declined by 0.35% on the interbank CHANGE market. USDGHS 3.1942 3.1968 47.83%▼ The S&P has downgraded Ghana’s ability to pay its debt on time GBPGHS 5.1574 5.1625 44.43%▼ from “B“ to “B-”. This is six levels below investment grade. According to the agency, the downgrade reflects the risks inherent EURGHS 4.0763 4.0794 36.56%▼ in financing Ghana's wide fiscal and current account deficits. Also, Government’s fiscal position is structurally weak, partly due to the Table 6: Inter-bank indicative rates sharp increase in public sector wages in recent years. The Cedi therefore declined by 0.30% on the interbank market to ▲ year-to-date appreciation settle at a year-to-date loss of 40.64%. ▼ year-to-date depreciation Dollar up by 0.08% Demand for the greenback continues to lose stem on the currency market, bolstering the value of the Cedi. USDGHS traded at GH¢3.20 last week indicating a depreciation in the value of the Dollar against the Cedi. With a year-to-date return of 47.83% the Dollar lost marginally to the Cedi by 0.01% before the close of trading. Euro gains on positive data Fig 3: YTD performance of Pound, Dollar & Euro versus the Cedi The Euro appreciated on the international market after data showed Eurozone prices rising in the month of October. According to Eurostat the region’s inflation rose 0.4% in October, in line with Pound versus Cedi market expectations. The British Pound declined on the international market as investors The situation was not different on the local market as the Euro pushed back their assessment of when the Bank of England (BoE) regained dominance over the Cedi after appreciating by 0.76% will raise its interest rates.
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]
  • 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]
  • A Study of Ecobank Ghana Limited and the Trust Bank
    Texila International Journal of Management Volume 3, Issue 2, Nov 2017 Synergies from Mergers and Acquisitions: A Study of Ecobank Ghana Limited and the Trust Bank Article by Daniel Kwabla- King Management, Texila American University, Ghana E-mail: [email protected] Abstract The Social Security and National Insurance Trust (SSNIT) the national Pension Scheme managers in Ghana with significant stake in the Ghanaian banking industry, in the year 2011 made a strategic move to drive bank consolidation in Ghana through the swapping of its shares in The Trust Bank (TTB) for ETI’s shares in Ecobank Ghana Limited (EBG). This study was set examine whether synergies were derived from the merger. It also examined whether the objectives set by SSNIT were met and finally determine whether the bank has remained competitive after the merger. The approach used for the study was quantitative technique and case study which concluded that the merger of Ecobank Ghana Limited and TTB achieved the intended results for SSNIT. Keywords: Synergies, Merger, Acquisition, Ecobank Ghana Limited, the Trust Bank, SSNIT, Ghana. Introduction The Social Security and National Insurance Trust (SSNIT) which had shares in most banks with controlling interest in TTB, in line with realigning its investments portfolio to achieve maximum returns, decided to drive bank consolidation through the swapping of its shares in The Trust Bank (TTB) for ETI’s shares in Ecobank Ghana Limited (EBG). The objective of the merger was to take advantage of efficiencies and synergies leading to enhanced shareholder value. Making a case for the merger, it was established that the core business of TTB was Commercial and retail banking with their focus on Small and Medium Scale Enterprises (SMEs).
    [Show full text]
  • BUSINESS CONSOLIDATION and ITS IMPACT on FINANCIAL PERFORMANCE: EVIDENCE from the GHANAIAN BANKING INDUSTRY Haruna Maama1
    European Journal of Accounting Auditing and Finance Research Vol.5, No.8, Pp.62-76, August 2017 ___Published by European Centre for Research Training and Development UK (www.eajournals.org) BUSINESS CONSOLIDATION AND ITS IMPACT ON FINANCIAL PERFORMANCE: EVIDENCE FROM THE GHANAIAN BANKING INDUSTRY Haruna Maama1. Rev Dr. John Poku2. Kennedy Frimpong3 1Kwame Nkrumah University of Science and Technology 2Senior Lecturer, Department of Accountancy, Kumasi Technical University, Ghana and Director, International Affairs and Institutional Linkages 3Lecturer, Department of Accountancy, Sunyani Technical University, Ghana ABSTRACT: The study provides empirical examination on the impact of business consolidation or mergers and acquisitions (M&A) on the financial performance of banks in Ghana. Both descriptive and correlational research designs were employed for the study. Two banks: Ecobank Ghana Ltd and Access Bank Ghana Ltd were chosen for the study. The annual reports of the banks from pre-merger period (2009 to 2011) and post-merger period (2012 to 2015) were used for the analysis. Two analysis techniques: ratio and regression analysis were used to examine the impact of mergers and acquisitions (M&A) on the profitability of these firms. Net profit margin (NPM) and return on capital employed (ROCE) were used as proxies for financial performance and Ordinary Least Square (OLS) regression model was used to estimate the level of impact of M&A on the performance of the banks. The study revealed that mergers and acquisitions (M&A) resulted to more than 80% growth in income and the net assets immediately after acquisition. The growth in profitability continued in subsequent years, however at a decreasing rates.
    [Show full text]
  • WEEKLY MARKET REVIEW 8 March 2019
    DATABANK RESEARCH WEEKLY MARKET REVIEW 8 March 2019 ANALYST CERTIFICATE & REQUIRED DISCLOSURE BEGINS ON PAGE 4 GSE MARKET STATISTICS SUMMARY Current Previous % Change Weekly Market Review Databank Free Float Index (DSI-20) 111.92 111.68 0.21% At the end of this week’s trading sessions, the Ghana GSE-CI Level 2,476.55 2,482.10 -0.22% Stock Exchange (GSE) recorded 10 price changes: 4 Market Cap (GH¢ m) 59,971.27 60,227.38 -0.43% YTD Return DSI-20 -4.88% -5.08% advancers and 6 decliners. The gainers for the week were YTD Return GSE-CI -3.72% -3.50% Ecobank Ghana (+10.24% w/w, GH¢7.75), GCB Bank Weekly Volume Traded (Shares) 4,899,415 1,963,159 149.57% (+8.26% w/w, GH¢3.80), Enterprise Group (+2.29% w/w, Weekly Turnover (GH¢) 3,905,685 12,076,818 -67.66% GH¢2.23) and Camelot (+11.11% w/w, GH¢0.10). Societe Avg. Daily Volume Traded (Shares) 372,148 290,938 27.91% Generale (-8.16% w/w, GH¢0.90), Total Petroleum (- Avg. Daily Value Traded (GH¢) 778,082 759,192 2.49% 1.53% w/w, GH¢4.52), Cal Bank (-2.91% w/w, GH¢1.00) No. of Counters Traded 16 22 and MTN Ghana (-2.70% w/w, GH¢0.72) were the top No. of Gainers 4 5 laggards. No. of Laggards 6 6 Trading activity slackened this week. Total Market Turnover for the week slowed ~68% w/w to ~GH¢3.91 KEY ECONOMIC INDICATORS million.
    [Show full text]
  • WEEKLY MARKET REVIEW 3 November 2017
    DATABANK RESEARCH WEEKLY MARKET REVIEW 3 November 2017 ANALYST CERTIFICATE & REQUIRED DISCLOSURE BEGINS ON PAGE 4 GSE MARKET STATISTICS SUMMARY Current Previous % Change Market Indices Maintain Bullish Performance (w/w): Databank Stock Index 30,388.18 30,209.24 0.59% By the end of this week’s trading session, the Ghana Stock Exchange’s Composite Index GSE-CI Level 2,367.28 2,352.11 0.64% increased by 15.15 points w/w to ~2,367 points while the Databank Stock Index (DSI) surged by 178.94 points w/w to 30,388 points. The year-to-date returns of the GSE-CI Market Cap (GH¢ m) 58,057.10 58,497.34 -0.75% and the DSI are recorded at 40.15% and 36.07% respectively. YTD Return DSI 36.07% 35.27% Market activity improved by ~32% w/w to 5.37 million shares on the back of block trades YTD Return GSE-CI 40.15% 39.25% in Cal Bank and Total Petroleum. The total volume of shares traded were valued at Weekly Volume Traded (Shares) 5,365,067 941,100 470.08% GH¢8.97 million. Cal Bank and Total Petroleum accounted for ~94% of the aggregate volume of shares traded. Weekly Turnover (GH¢) 8,973,736 3,004,202 198.71% Avg. Weekly Volume Traded The market breadth of the bourse was negative (w/w) with 6 gainers and 7 laggards. 1,443,315 1,417,645 1.81% Unilever Ghana was the best performer (w/w), surging by 39Gp to GH¢10.99.
    [Show full text]
  • 1 CONTACT DETAILS of PENSION FUND CUSTODIANS No. Company
    CONTACT DETAILS OF PENSION FUND CUSTODIANS No. Company Name & Address Location Company Company Email & Website Contact Telephone # Person/Mobile 1. ECOBANK GHANA LIMITED Ecobank Ghana 0302-681146–8 [email protected] Vera-Marie Ayitey- PMB, GPO, Accra. Head Office. 0302-680869 Smith 0244-483036 2. STANDARD CHARTERED BANK High Street, 0302-664591–8, [email protected] Beverly Firmpong GHANA LTD. Accra 0302-769210–22 [email protected] 0302-633569 P. O. Box 768, Accra. 0202-023933 3. STANBIC BANK GHANA Stanbic Heights, 0302-610690 [email protected] Eunice Amoo- LIMITED Airport City, www.stanbic.com.gh Mensah P. O. Box CT 2344, Accra. Accra [email protected] 0244-333145 4. CAL BANK LIMITED No. 23 0302798334/5 [email protected] Nan Opoku (Ms.) P. O. Box 14596, Accra- Ghana. Independence www.calbank.net 0244-601170 Avenue-Ridge, [email protected] Accra 5. GUARANTY TRUST BANK 25A, Castle 0302-611560 [email protected] Solace Fiadjoe (GHANA) LTD. Road, 0302-662727 [email protected] 0504-100263 P. O. Box CT 416, Cantonment Ambassadorial www.gtbghana.com Area, Ridge, Accra. 6. AGRICULTURAL ADB House, 0302-770403 [email protected] Elorm Aidem DEVELOPMENT BANK Independent 0302-762104 www.agricbank.com 0244-253181 P. O. Box 4191, Accra. Avenue, 0302-783123 [email protected] Accra. 0302-784394 0302-262085 7. REPUBLIC BANK GHANA #48A, Sixth 0302-664372 www.republicghana.com Audrey Smith LIMITED Avenue, North 0302-668890 [email protected] Dadzie Head of Custody Services Ridge, Accra [email protected] 0208-737616 Department P. O. Box CT4603, Cantonment, Accra.
    [Show full text]
  • Sort Code Bank Name Branch Name
    SORT CODE BANK NAME BRANCH NAME 010101 BANK OF GHANA BANK OF GHANA ACCRA BRANCH 010303 BANK OF GHANA BANK OF GHANA -AGONA SWEDRU BRANCH 010401 BANK OF GHANA BANK OF GHANA -TAKORADI BRANCH 010402 BANK OF GHANA BANK OF GHANA -SEFWI BOAKO BRANCH 010601 BANK OF GHANA BANK OF GHANA -KUMASI BRANCH 010701 BANK OF GHANA BANK OF GHANA -SUNYANI BRANCH 010801 BANK OF GHANA BANK OF GHANA -TAMALE BRANCH 011101 BANK OF GHANA BANK OF GHANA - HOHOE BRANCH 020101 STANDARD CHARTERED BANK STANDARD CHARTERED BANK(GH) LTD-HIGH STREET BRANCH 020102 STANDARD CHARTERED BANK STANDARD CHARTERED BANK(GH) LTD- INDEPENDENCE AVENUE BRANCH 020104 STANDARD CHARTERED BANK STANDARD CHARTERED BANK(GH) LTD-LIBERIA ROAD BRANCH 020105 STANDARD CHARTERED BANK STANDARD CHARTERED BANK(GH) LTD-OPEIBEA HOUSE BRANCH 020106 STANDARD CHARTERED BANK STANDARD CHARTERED BANK(GH) LTD-TEMA BRANCH 020108 STANDARD CHARTERED BANK STANDARD CHARTERED BANK(GH) LTD-LEGON BRANCH 020112 STANDARD CHARTERED BANK STANDARD CHARTERED BANK(GH) LTD-OSU BRANCH 020118 STANDARD CHARTERED BANK STANDARD CHARTERED BANK(GH) LTD-SPINTEX BRANCH 020121 STANDARD CHARTERED BANK STANDARD CHARTERED BANK(GH) LTD-DANSOMAN BRANCH 020126 STANDARD CHARTERED BANK STANDARD CHARTERED BANK(GH) LTD-ABEKA BRANCH 020127 STANDARD CHARTERED BANK STANDARD CHARTERED BANK(GH)-ACHIMOTA BRANCH 020129 STANDARD CHARTERED BANK STANDARD CHARTERED BANK(GH) LTD- NIA BRANCH 020132 STANDARD CHARTERED BANK STANDARD CHARTERED BANK(GH) LTD- TEMA HABOUR BRANCH 020133 STANDARD CHARTERED BANK STANDARD CHARTERED BANK(GH) LTD- WESTHILLS BRANCH 020436
    [Show full text]
  • “Internet Banking: an Initial Look at Ghanaian Bank Consumer Perceptions”
    “Internet banking: an initial look at Ghanaian Bank Consumer Perceptions” Atsede Woldie AUTHORS Robert Hinson Habib Iddrisu Richard Boateng Atsede Woldie, Robert Hinson, Habib Iddrisu and Richard Boateng (2008). ARTICLE INFO Internet banking: an initial look at Ghanaian Bank Consumer Perceptions. Banks and Bank Systems, 3(3) RELEASED ON Thursday, 27 November 2008 JOURNAL "Banks and Bank Systems" FOUNDER LLC “Consulting Publishing Company “Business Perspectives” NUMBER OF REFERENCES NUMBER OF FIGURES NUMBER OF TABLES 0 0 0 © The author(s) 2021. This publication is an open access article. businessperspectives.org Banks and Bank Systems, Volume 3, Issue 3, 2008 Atsede Woldie (United Kingdom), Robert Hinson (Ghana), Habib Iddrisu (United Kingdom), Richard Boateng (United Kingdom) Internet banking: an initial look at Ghanaian bank consumer perceptions Abstract Internet banking is a tool in the service delivery arsenal for banks. This study focuses on client-bank relationship and on how Internet adoption may improve the qualitative relationship between banks and firms in Ghana and the business they serve. The study adopted a triangulation approach in meeting its objectives. A sample of 180 companies was sampled from the manufacturing, commerce, and services sectors of the economy. The findings of the study were mainly reported by means of descriptive statistics. The research findings indicate that Internet banking services are at their infant stage. Of the respondents, 68% had heard about Internet banking while 33% have never heard about it. 55% of the respondents said security concerns were the major barrier to the adoption of Internet banking. 55.6% of the firms that responded were not connected to the Internet whiles 44.4% were.
    [Show full text]
  • Cal Bank Limited
    CAL BANK LIMITED 2016 ANNUAL RESULTS INVESTOR PRESENTATION A P R I L 2 0 1 7 INVESTOR PRESENTATION | 2017 Disclaimer This report was prepared by CAL to provide background information on the Group. The report is issued for information purposes only, especially with regards to enabling users understand the inherent potential of the business. It is therefore not a solicitation to buy or sell the stock. The information contained herein is subject to change and neither the bank nor its staff is under any obligation to notify you or make public any announcement with respect to such change. Users are hereby advised to exercise caution in attempting to rely on this information and carry out further research before reaching conclusions regarding their investment decisions. 2 INVESTOR PRESENTATION | 2017 Outline Operating Environment: Ghana Ghana Banking Sector Overview of CAL Bank Limited CAL Financial Performance CAL Strategy and Outlook 3 INVESTOR PRESENTATION | 2017 Macroeconomic Indicators MACROECONOMIC OVERVIEW MACROECONOMIC INDICATORS • Ghana has a strong export profile and is the world’s second largest exporter of cocoa (USD1.9bn as INFLATION POLICY LENDING at October 2016), behind Côte d’Ivoire, and one of the continent’s largest gold producers (USD 3.9bn of export as at October 2016). Its recent oil and gas discoveries have further expanded its RATE RATES resource wealth (USD 1.0bn oil export in October 2016) • The Country’s dependence on its exports leaves it vulnerable to external pressures and the recent 13.2 23.5 32.3 drop in commodity prices, namely gold and oil have significantly constrained revenues and PERCENT PERCENT PERCENT imperiled finances AS AT FEB 2017 AS AT MAR 2017 AS AT FEB 2017 • The country’s macro-economic fundamentals continue to be attractive with an average real GDP growth rate of 7.7% in the last five years.
    [Show full text]
  • First National Bank Ghana
    First National Bank Online Banking Enterprise™ - Payment Cut-Off Times Direct Payment Express Payment Instant Payment Service Service Service Service Anytime during the day Monday - Friday Anytime (including Saturdays, Sundays within the allowed cut-off and Public Holidays) processing times. In accordance with the cut-off Submission times below. Payments submitted after the cut-off times below will be processed on the next business day. Monday to Friday To First National Bank: To Participating Banks n/a No cut-off time between 09h15 and 11h35 Cut-off To other banks: 09h00 - Times 18h00 Saturdays, Sundays and Public Holidays Payments to both First National Bank and to other banks will n/a only be submitted for processing on the next business day. Any payment processed to a Any payment processed to a Participating Any payment authorised Bank through the Instant Payment service and fully processed to a Participating Bank through the Express service type within the type will be cleared within 1 minute of it Participating Bank being authorised and fully processed on Clearing allowed cut-off processing through the Direct the same day. Times: Payment service type times will be cleared within 6 within the allowed cut-off hours of it being authorised and processing times will be fully processed on the same cleared on the next day. business day. Express payments are Instant payments are posted to the posted to the recipient’s recipient’s account on the same business All payments are posted account on the same day. to the recipient’s account business day. on the next business day.
    [Show 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.
    [Show full text]