Ghana: First Atlantic Bank deposits jump 38% to GH¢19bn

Ghana’s First Atlantic Bank increased customer deposits to GH¢19.04 billion at 30 September 2026, up from GH¢13.83 billion a year earlier, a rise of 37.6%. The rapid expansion of its balance sheet was not matched by earnings growth, with consolidated net profit edging up 2.3% to GH¢258.4 million, according to unaudited financial statements released through the Ghana Stock Exchange in late October.

The bank nevertheless generated substantially more income during the first nine months of the year. Operating income increased 31.3% to GH¢826.4 million, while net interest income reached GH¢526.6 million, compared with GH¢383.3 million in the corresponding period of 2025. Lower interest expenses, which fell from GH¢365.6 million to GH¢246 million, contributed to that improvement.

Higher revenue came alongside rising costs. Other operating expenses grew from GH¢170.6 million to GH¢243.9 million, while the positive contribution recorded under net credit impairments fell sharply from GH¢98.7 million to GH¢3.7 million. Pre-tax profit consequently reached GH¢383.8 million, compared with GH¢371.3 million a year earlier.

Lending grows faster than deposits

Customer loans and advances climbed 66.6% to GH¢2.53 billion, up from GH¢1.52 billion at the end of September 2025. Consolidated assets rose 39.4% over the same period to GH¢21.82 billion, placing the expansion of lending within broader growth in the bank’s funding base and balance sheet.

Asset-quality and capital indicators also improved. The non-performing loan ratio declined from 14.28% to 11.20%, while the capital adequacy ratio increased from 13.80% to 14.54%. The bank also reported a liquidity ratio of 169.61%, compared with 130.80% a year earlier.

Expansion into Liberia

First Atlantic Bank has meanwhile extended its operations beyond Ghana. Its Liberian subsidiary, licensed by the country’s central bank, started operating in August 2026, the financial statements say. In the Ghanaian bank’s separate accounts, investments in subsidiaries rose to GH¢120.1 million from GH¢3 million a year earlier.

Listed on the Ghana Stock Exchange since December 2025, First Atlantic Bank paid GH¢100 million in dividends during the first nine months of 2026, compared with GH¢75 million over the equivalent period last year. Consolidated shareholders’ funds stood at GH¢2.37 billion at the end of September, up from GH¢1.77 billion a year earlier.