The Bank recorded a significant increase in profit to GHS 64.7 million in 2019 from GHS 24.57 million in 2018 as a result of capital inflow and effective balance sheet management.
The net banking margin for FY 2019 appreciated by 53.4% from GHS 95.2 million in 2018 to GHS 146.05 million in 2019. This success is the result of a strategy to focus on SMEs and enterprises.
Foreign exchange revenues performed well, as did investment revenues: in total, these activities translated into GHS 43.6 million in 2019, compared to GHS 29.3 million in 2018. The increase in revenues is due to effective synergies achieved between the dedicated government bond division and other activities.
Operating expenses increased from GHS 93.1 million in 2018 to GHS 107 million in 2019, an increase of 15%.