8 August 2018

Ghana: Absa Group's Income Hits U.S.$2.3 Billion

The group's revenue increased to 37 billion Rand or 2.8 billion dollars between January and June 2018.

A statement on the bank's financial position also said that major earnings for the bank increased by the same margin to 608 million dollars.

"Absa Group Limited, Barclays Bank Ghana's parent company, today reported an increase in earnings and income for the first half of 2018 and underscored its commitment to growth in Africa," the Group said.

Commenting on the performance, the CEO of Absa, Maria Ramos stressed the group's plan to double its share of banking revenue in Africa to 12 percent.

The Board Chairman of Barclays Bank Ghana Limited, Mr. Charles Cofie also said, "Our group's performance reflects our financial strength and commitment to build a forward-looking business group with global scalability that Ghana and the whole of Africa will be proud of."

Barclays bank meets GH¢400m minimum capital

Meanwhile Barclays Bank Ghana Limited has stated that the bank it has met the 400 million cedis minimum capital requirement.

According to the Board Chairman of Barclays Bank Ghana Limited, Mr. Charles Cofie, Barclays was among the first banks to meet the target without external capital injection.

"It continues to demonstrate a strong liquidity position and a high capital adequacy ratio of 23.93%, well above the regulatory threshold of 10%. The bank remains a dependable financial partner with a strong financial base, robust governance structure and clear risk management framework," the statement added.


Govt to Equip the Ghana Armed Forces With State-of-the-Art Infrastructure

The Government of Ghana has signed a contract for the construction of a Forward Operating Base at Nzulezu in the Western… Read more »

See What Everyone is Watching

Copyright © 2018 Ghanaian Times. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.