Barclays Bank Ghana recorded a profit after tax of 386.17 million cedis.

Comparing this performance to the previous year, the bank’s profit went up by about 82 million cedis. The bank recorded a profit of 304.53 million cedis recorded in 2016.

The Finance Director at Barclays Bank Ghana, Antoinette Kwofie said they are optimistic about sustaining this growth and contribution to the new ABSA brand from this year onwards.

READ ALSO: Police officer, Soldier, one other arrested for allegedly robbing bank customers

Antoinette Kwofie also explained the reasons accounting for the bank’s performance.

In 2017 also, the bank’s income such as interests on loans, as well as fees and commissions charged for use of ATMs for instance, went up 887.29 million cedis in 2017.

The bank also spent a bit more on its expenditure including income taxes as well as personnel expenses in 2017.

Total expenses amounted to 337 million cedis in 2017 against the 291.79 million cedis recorded in the preceding year (2016).

READ ALSO: Ghana navy rescue vessel hijacked by Nigerian pirates

She said the improved efficiency of the bank led to the profitability.

“This year you will see a growth of 12.7 percent; between 2015 and 2016, you see a higher year on year growth compared to this figure. So the operational efficiency that we are putting in place to deliver better value to the customers and also to keep our cost within a manageable range is what is leading to the declining growth,” she stated.

Also, weighing Barclays Bank’s assets against its liability, which is the capital adequacy ratio, stood at 20.45 percent against 19.04 percent in 2016.

Meanwhile, the Non-Performing Loan ratio stood at 13.6 percent compared to 19.17 percent.

! function(f, b, e, v, n, t, s) {
n = f.fbq = function() {
n.callMethod ?
n.callMethod.apply(n, arguments) : n.queue.push(arguments)
if(! f._fbq)f._fbq = n;
n.push = n;
n.loaded = ! 0;
n.version = ‘2.6’;
n.queue = [];
t = b.createElement(e);
t.async = 1;
t.defer = 1;
t.src = v;
s = b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t, s)
document, ‘script’, ‘//’);
// Insert Your Facebook Pixel ID below.
fbq(‘init’, ‘1687302461508505’);
fbq(‘track’, ‘PageView’);

/* <![CDATA[ */
var fbAsyncIds = [],
fbStatUrls = [];
$(window).load(function() {
$.getScript('', function() {
version: 'v2.6',
appId: '281583498707150',
cookie: '',
oauth: true,channelUrl:''
.each(function() {
window.fbAsyncInit = function() {
for(var i = 0; i */

twttr.ready(function(twttr) {
/*‘click’, function (event) {
console.log(‘twitter clicked’);
/*‘tweet’, function(event) {

trackLike(“”, “twitter”);

(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
js = d.createElement(s); = id;
js.async = 1;
js.defer = 1;
js.src = “”;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));
.addEventListener(‘load’, function() {
FB.Event.subscribe(‘comment.create’, function(comment_response) {
trackLike(“”, “comment_facebook”);

Sign Up for Our Newsletters

Stay Informed | Stay Smart - Get our daily updates

You May Also Like

No school for me, I make more money selling “hausa koko” than some workers’ salary

Amina admits that she herself would have liked to have completed school but remains adamant that early marriage is not an entirely terrible thing and says she makes more money from “hausa koko” than some workers’ salary

Ghanaian Uber drivers go on strike over 25% commission

The Uber drivers in Ghana argue that the percentage given to Uber is unfair and every attempt to resolve this amicably has failed hence their protest.

AirtelTigo partners Ericsson to consolidate and upgrade its network in Ghana

The partnership will enable AirtelTigo to unify its network assets between former Tigo and Airtel and provide customers with fast internet experience and superior voice quality.

JEROME KUSEH: Why debt doesn’t have to be a dirty word

Debt is too often viewed as an indication that one is unable to save, unable to live within his/her means or impatient in acquiring the finer things in life., writes iGhanaian Blogger, Jerome Kuseh.