This is compared with the 25.5% growth recorded in June 2024.

The profit before tax also rose by 32.2% to GH¢10.8 billion, from GH¢8.1 billion in June 2024.

According to the report, the higher growth in profit during the first half of this year was due to increases in interest income and other income lines in 2025 relative to the same period in 2024.

Generally, all income lines increased at higher growth rates in June 2025 compared to the same period last year.

Net Interest Income

Net interest income increased by 20.2% to GH¢14.2 billion, higher than the corresponding growth of 19.4% in June 2024.

In year-on-year terms, interest income increased to GH¢21.6 billion from GH¢18.0 billion, representing a growth of 20.4% in June 2025 compared with 19.1% in June 2024.

The higher growth in interest income is explained by the relatively higher rates on money market instruments this year compared to the first half of 2024, as well as higher lending rates.

Interest expenses also rose to GH¢7.5 billion in June 2025, representing a higher growth rate of 20.7% compared to the 18.6% growth recorded in June 2024.

Net Fees and Commissions

The net fees and commissions recorded a marginal growth of 17.8% from 16.8% a year ago, while other income recorded a higher growth of 52.2% to GH¢3.6 million.

This is from GH¢2.4 billion (16.2% contraction) during the same review period.

According to the report, these developments in the different income lines culminated in an increase in the industry’s operating income to GH¢20.9 billion in June 2025 from GH¢16.8 billion. This represented  a higher growth of 24.4% compared to 12.3% in the year prior.

Similarly, gross income increased to GH¢28.3 billion in June 2025 (23.4% year-on-year growth) from GH¢23.0 billion in June 2024 (14.0% year-on-year growth).

Cost Lines

The cost lines also recorded similar increases in growth rates in June 2025 compared to the same period in 2024.

The banking industry’s operating expenses grew by 21.4% in June 2025, compared to 15.5% in June 2024. This is on the back of higher growth in staff costs and other operating (administrative) expenses.

However, impairment losses on financial assets as well as provisions for bad debt and depreciation contracted by 14.8% in June 2025, compared to the 39.5% contraction in June 2024.

Source: Joy Business

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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% in 2023.

In year-on-year terms, interest income increased to GH¢18.0 billion from GH¢15.1 billion, representing a growth of 19.1% relative to 44.3% in June 2023.

The lower growth in interest income was explained by the relatively lower rates on money market instruments this year compared to the first half of 2023, as well as a decline in lending rates. Interest expenses also rose to GH¢6.2 billion in June 2024, representing a lower growth rate of 18.6% compared to the 50.0% recorded in June 2023.

Fees and Commissions

Net fees and commissions recorded a slower growth of 16.8% in June 2024, from 30.6% a year ago, while other income recorded a sharp contraction of 16.2 percent to GH¢2.4 billion in June 2024, from GH¢2.8 billion in June 2023.

These developments in the different income lines culminated into a sharp increase in industry’s operating income to GH¢16.8 billion in June 2024, from GH¢14.9 billion in June 2023.

Similarly, gross income increased to GH¢23.0 billion in June 2024, from GH¢20.1 billion in June 2023. The cost lines recorded similar increases in June 2024, but at lower growth rates compared to the same period in 2023.

The industry’s operating expenses grew by 15.5% in June 2024, compared to 44.9% in June 2023, on the back of slower growth in staff costs and other operating (administrative) expenses.

Impairment losses on financial assets, as well as provisions for bad debt and depreciation, contracted by 39.5 percent in June 2024, compared to 32.7 percent increase in June 2023.

Source: Joy Business

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