GCB delivers strong quarter 3 2026 performance; profit rises to GH¢629.11m
Non-funded income rose 64% year-on-year, supporting growth and highlighting the growing contribution of non-interest revenue. However, interest income declined as the average lending rate dropped to 15.94% in August 2026 from 25.15% in August 2025.
GCB Bank PLC reported a robust third quarter performance for 2026, with total assets increasing by 35% year-on-year to reach GH¢67.62 billion. The bank's loan and advances rose significantly, up 78% year-on-year to GH¢25.97 billion, while deposits increased by 34% year-on-year to GH¢50.78 billion. This led to a loan-to-deposit ratio of 51%.
Non-performing loans (NPLs) decreased to 4.8%, and the Capital Adequacy Ratio fell to 14.6%. Despite these positive indicators, profit after tax (PAT) grew by 39% year-on-year to GH¢629.11 million, outpacing analysts' estimates, which raised the Return on Equity to 25%. Non-funded income surged 64% year-on-year, underscoring the growing significance of non-interest revenue.
However, interest income fell as the average lending rate dropped from 25.15% in August 2025 to 15.94% in August 2026. Operating expenses saw a 13% quarter-on-quarter rise to GH¢938.02 million, exceeding the 1% growth in operating income to GH¢1.97 billion. Personnel costs accounted for a notable 19% increase quarter-on-quarter, which negatively impacted the cost-to-income ratio, raising it to 47.7% in quarter 3 2026 from 43% in quarter 2 2026.
The bank's asset composition is shifting, with loans now driving the balance sheet expansion, while investment securities declined by 8% quarter-on-quarter. Increased lending outpaced deposit mobilization, leading to a higher loan-to-deposit ratio. For sustained growth, the bank must continue to attract more deposits and manage funding costs effectively.
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