The Ghana Commercial Bank saw a substantial leap in its profits for last year. The bank’s profit after tax was almost three times the previous year’s figure, from 18.8 to 56.1 million Ghana cedis. The figures represent the bank’s best performance in a long while. Explaining to Joy Business as to what accounted for the [...]
Read the rest of this story »Banks’ total profit-before-tax for 2010 soared 73.2% over the previous year to GH¢0.59 billion despite the presence of significant loan impairment on their balance sheets, according to data from the Bank of Ghana. Less taxes, the industry’s profit topped GH¢0.425 billion registering growth of 75% and indicating a vastly-improved performance over the 7% and 13.2% [...]
Read the rest of this story »Who are share registrars and what do they do? Registrars of shares keep an up-to-date record of all stocks bought, which includes names of individual shareholders, their shareholdings, their addresses, and signatures amongst other salient information. These addresses and signatures of clients can be changed upon request of holders after verifications are done. It [...]
Read the rest of this story »World’s fastest growth rates over next 20 years expected SURE KAMHUNGA STANDARD Bank ’s decision to abandon its global emerging markets focus and concentrate on Africa will please shareholders but could present a new challenge for local rivals who have also decided the continent is the best place to be. Last week, Standard said it [...]
Read the rest of this story »“The best time to plant a tree was twenty years ago, the second best time is today” A Kenyan Proverb Whatever you have is a seed, you can decide to chew it now or plant it and reap the benefits in harvest time. If you chew your seed now, you would have nothing to reap [...]
Read the rest of this story »Government has reached an agreement with the Ghana Commercial Bank on a significant settlement of debts owed it by the Tema Oil Refinery. It involves a government guarantee to pay about 90 percent of the estimated 650 million Ghana cedis outstanding. The Managing Director of GCB, Mr Simon Dornoo, confirmed to Joy Business, the government [...]
Read the rest of this story »The International Monetary Fund is cautioning the Bank of Ghana against any reaction to the recent surge in inflation that may distract it from its own medium term goals. Inflation went up marginally in January to 9.08 percent, bringing to an end an 18-month persistent drop. It has been blamed on an increase in fuel [...]
Read the rest of this story »By Kamlesh Bhuckory AfrAsia Bank Ltd., a closely held Mauritian corporate lender, plans to expand its African loan book by more than threefold in the next 18 months, Chief Executive Officer James Benoit said. The bank will seek to invest in medium-sized companies focused on infrastructure and commodities and listed on Johannesburg’s stock exchange, Benoit [...]
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