CalBank Banking Sector Overview & Competitor Benchmarking
CalBank | Summarized Group income statement
Amount in GHS 000's
Q1 2023
Q1 2022
YOY%
FY2022
FY2021
YoY %
Interest Income
325,085
283,349
14.7%
1,282,278
980,671
30.8%
Interest Expense
(172,052)
(137,032)
25.6%
(689,183)
(511,124)
Net Interest Income
153,033
146,317
4.6%
593,095
469,547
Net Fees and Comm.
24,020
20,818
15.4%
82,908
51,852
Net Trading Income
42,697
37,764
13.1%
114,773
192,634
34.8%
26.3%
59.9%
(40.4%)
Other Operating Income
410
369
11.1%
888
Operating Income
220,160
205,268
7.3%
Net Impairment Loss
(2,011)
(14,423) (86.1%)
791,664
(1,451,244)
Operating expenses
(121,434)
(93,457) (28.4%)
(412,596)
(243,456)
(69.5)
Total Operating
(123,445)
(109,032)
13.2%
(1,863,840)
(325,831)
Expense
31,690 (97.2%)
745,723
6.2%
(82,375) (1,661.6%)
(356.6%)
(417.7%)
.
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Q1-2023 Highlights
an
Operating Income: Q1-2023 Total income
increased by 7.3% over prior year income
of GHS 205.3mn, largely driven by
increase in loans and advances and increased
yields for the comparative periods. Net
commissions and fees increased by 15.4% to
GHS 24.0mn due to enhanced credit
activities and sustained growth in our digital
banking services.
Operating expenses: Amidst rising inflation
and local currency depreciation, operating
expenses rose sharply by 28.4% in Q1 2023
over prior year. We expended a total of GHS
121.4 million.
Net Impairment Loss: Credit loss expense
decreased from GHS 14.4 million in Q1-2022
to GHS 2.0 million in Q1-2023. This
represents a recovery from the FY 2022 fair
value provision on the bank's bond portfolio
and other government credit exposures
following the domestic debt exchange
programme
Profitability: Profit before tax in Q1-2023
increased marginally by 0.5% to GHS 63.0
million over the same quarter last year. The
return to profitability in the first quarter
reflects a recovery from the GHS 809.8
million loss recorded at the end of FY 2022
arising largely out of the adverse impact of
the bank's participation in the domestic debt
exchange programme.
Profit Before Tax
96,715
96,236
0.5%
(1,072,176)
337,517
Income Tax
(33,659)
(33,521)
0.4%
262,366
(114,665)
328.8%
Profit After Tax
63,056
62,715
0.5%
(809,810)
222,852
(463.4%)View entire presentation