 Ghana Commercial Bank Limited (GCB) has recorded a half year profit before tax of GH¢122.4 million as against GH¢67.7 million registered last year.
This represents over 80% growth in profit resulting in GH¢90.4 million after tax profit compared to GH¢50.2 million in the first half of 2012.
The Bank's net operating also soared from GH¢169.9 million in June 2012 to GH¢256.6 million in 2013. This is an increase of 51%.
Whilst keeping a sharp focus on cost control, the Bank continued to enhance returns to shareholders by improving earnings per share from GH¢0.38 recorded in June 2012 to GH¢0.68 in 2013, representing about 79% growth.
Return on equity also leapt from 44% last year to 53% in June this year.
GCB's total assets increased to GH¢3.0 billion (13%) growth) from GH¢2.7 billion with earnings assets growing from GH¢ 2.1 billion in 2012 to GH¢2.4 billion this year.
Net loans and advances went up 46% to GH¢935.2 million compared to GH¢642.6 million Customer deposits augmented by 11% to GH¢2.3 billion as against GH¢2.1 billion same period last year.
Commenting on the half year result, the Chief Fianace Officer of GCB, Mr John Awuah, said GCB is well positioned to outperform the market and increase its leadership position.
"The strength of our balance sheet is a key competitive advantage that will allow us to pursue further external growth opportunities as they arise. We are on course to deliver a decent financial performance in 2013 with emphasis on growth at controlled pace," he added.
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