Republic Bank posts 51.7% increase in profit-after-tax for third quarter 2024

Republic Bank Ghana Plc saw a substantial 43.7% increase in total assets for Q3 2024, rising from GHS 6.2 billion to GHS 8.9 billion, mainly driven by a 73.9% jump in cash holdings and a 75.3% increase in investment securities.

Loans and advances also grew 33.7% to GHS 2.9 billion, highlighting the bank’s expanding lending portfolio.

Liabilities rose 46.5% to GHS 8 billion, and profit-after-tax reached GHS 128 million, a 51.7% year-on-year increase.

Despite a slight dip in Capital Adequacy Ratio to 15.59%, non-performing loans improved marginally to 16.51%, reflecting enhanced loan recovery efforts.