Bank profit

The banking industry’s profit-after-tax increased by 25.5% to GH¢5.4 billion in June 2024, the Monetary Policy Report of the Bank of Ghana has revealed. This is compared with the 51.4% growth recorded in June 2023. Profit-before-tax also rose by 22.8% to GH¢8.1 billion. The lower growth in profit during the first half of this year was because of lower increases in interest income and other income lines in 2024, relative to the same period in 2023. Generally, all income lines increased. Interest Income Net interest income grew by 19.4% to GH¢11.8 billion, lower than the corresponding period’s growth of 41.4%…