Key Figures

Key Figures  (In GHS milion)

 

                                                           Activity

  2019 2020 Variation

Deposits

1,084 1,200

10.7%

Loans

726 745

2.7%

Number of branches at the end of the financial year

26 26

0.0%

 

 

                                                           Structure

  2019 2020 Variation

Total Assets

2,048

2,057

0.4%

Shareholders’ equity

596

645

8.3.%

Average number of employees

349

346

-0.9%

 

                                                               Capital Adequacy Ratio                                                      

  2019 2020

Tier 1

518 571

Tier 2

- -

Risk Weighted Asset (RWA)

1,274 1,448

Tier 1 + Tier 2 / RWA (%)

40.7% 39.4%
 
 

 

                                                            Income

 

2019 2020

Variation

Net Operating income

217 236

8.8%

Operating expenses (including depreciation and amortization)

107 113

5.6%

Gross operating profit

110 123

11.8%

Cost of risk (in value) (*)

20 23 14.0%

Operating ratio (%)

49.3% 47.9%

 

Cost of risk (%)

3.2.% 3.2%

 

Return on Assets (ROA %)

3.9% 3.1%

 

Return on Equity  18.4% 11.8%  

(*) Including general provision

Annual Report

2019 Financial Statements BOA-GHANA

Our Bank performed and recorded a significant growth in profitability to the tune of GH¢ 64.7 million in 2019 relative to GH¢ 24.57 million in 2018, this was driven by additional

capital and efficient utilisation of our Bank’s balance sheet.

Net interest income for the year 2019 which increased by 53.4%, from GH¢ 95.2 million in 2018 to GH¢ 146.05 million. We achieved this, through our strategic decision to focus on SME and Corporate value chain.

We showed a strong performance on our foreign exchange income in addition to other trading income, increasing from GH¢ 29.3million in 2018 to GH¢ 43.6 million in 2019 due to efficient synergies between Treasury and the other Business Units.

Our Total Operating Cost increased from GHS 93.1 million in 2018 to GH¢ 107 million in 2019, representing a growth of 15%. We managed to mitigate the impact on our operating cost through stringent cost containment measures.