When GCB Bank PLC launched its 2025–2028 strategy, it set out to move from gains to dominance. Today, the numbers say that journey is well underway. Presenting its Facts Behind the Figures to investors and analysts, Ghana’s largest bank reported profit before tax of GH¢2.87 billion for the nine months to September 2026. That is 42.6% higher than a year ago and already 91% of the full profit the Bank earned in 2025.
The result comes against the backdrop of a new challenge to earning resilience from margin compression. As Ghana’s economy stabilized and interest rates fell, GCB responded by doing the real business of banking: lending to Ghanaian businesses and households, growing fee income, and running a leaner operation.
A bigger franchise, funded by trust
Customer deposits grew 22.9% to GH¢50.78 billion. The low-cost Current and Savings accounts (CASA) contributed 93.2% of the total funding mix for the period. All three business lines – Retail, Wholesale & Investment Banking (WIB), and Commercial & Business Banking (CBB) – added to the deposit engine.
Putting money to work in the real economy
This more affordable, stable funding is now flowing into Ghana’s productive sectors, underpinning the 29.0% growth in total assets year-to-date to GH¢67.62 billion. As a result, gross loans climbed 47.7% year-to-date to GH¢26.33 billion, a growth of 120.6% since December 2024. Loans now make up 47.4% of the Bank’s earning assets, up from 40.6% at the end of 2024.
Crucially, the Bank grew bigger and cleaner at the same time. The Non-Performing Loans (NPLs) ratio improved to 4.8%, from 10.8% a year earlier and 15.06% at the end of 2024. The NPL ratio declined across all three business lines, reflecting the risk discipline underpinning the growth strategy.
Earnings that no longer depend on one source
Non-funded income, from fees, trading and FX, jumped 81.7% to GH¢2.13 billion. It now contributes 37.4% to operating income, up 10.1 percentage points in a year. Total operating income rose 32.4% to GH¢5.70 billion, even as falling rates squeezed margins.
Income grew 32.4% while costs grew 21.3%, giving the Bank positive operating jaws of 11.1 percentage points. The cost-to-income ratio improved to 45.1%, from 47.9% at the end of 2024.
The value of this performance is reaching shareholders. The annualized return on equity stands at 36.3% and return on assets at 4.1%. Earnings per share rose 43.3% to GH¢9.38. In response, GCB’s shares rallied, nearly doubling in value year-to-date.
Quality growth, not just size
“These results show what disciplined execution can do,” said Mr. Farihan Alhassan, Managing Director of GCB Bank PLC. “The easy Treasury era is over, and we saw it coming. We chose to lend more to Ghanaian businesses, to earn more from serving customers well, and to spend every cedi with care. The outcome is a bank that is larger, more productive, more diversified, and cleaner. Our customers trust us with their deposits, and we are putting that trust to work for Ghana’s growth.”
Looking ahead
Based on its performance to September 2026 and prevailing operating assumptions, Management is targeting a minimum profit before tax of GH¢3.7 billion for the 2026 financial year. This outlook remains subject to developments in interest rates, credit conditions, market activity and other factors affecting the Bank’s operating environment.
