Ghanaian lender Izwe Savings and Loans reported net profit of GH¢2.11 million for the first nine months of 2026, down from GH¢5.49 million a year earlier, a decline of 61.5%. Its unaudited accounts, published by the Ghana Stock Exchange on 30 October, also show a sharp contraction in customer lending and deposits.
Interest income fell from GH¢120.44 million to GH¢85.30 million over the period. Izwe also reduced interest expenses from GH¢71.65 million to GH¢41.05 million, cushioning the impact on net interest income, which eased to GH¢44.26 million from GH¢48.79 million. Net operating income nevertheless declined to GH¢43.52 million, compared with GH¢50.98 million in the corresponding nine months of 2025.
Lower costs were not enough to protect earnings. Administrative and operating expenses decreased to GH¢40.07 million from GH¢43.14 million, but pre-tax profit fell to GH¢3.45 million from GH¢7.84 million a year earlier.
Loans and deposits shrink by about a third
The smaller scale of Izwe’s lending business is also apparent on its balance sheet. At 30 September, net customer loans and advances stood at GH¢262.97 million, down 32.8% from GH¢391.62 million a year earlier. Customer deposits dropped 34.7% to GH¢203.61 million, compared with GH¢311.71 million, while total assets declined from GH¢517.52 million to GH¢418.96 million.
The lender’s funding mix also changed. Izwe issued GH¢50 million in debt securities and repaid GH¢25 million during the nine-month period, bringing the outstanding balance to GH¢100 million at the end of September. Cash and cash equivalents increased to GH¢69.89 million from GH¢25.22 million a year earlier, while shareholders’ equity rose to GH¢75.69 million from GH¢73.03 million.