Standard Chartered Bank Ghana Limited's underlying operating income increased by 10 per cent to GH¢539.7 million from GH¢490.1 million recorded in September 2017.
Profit before tax of GH¢249.8 million declined by 24 percent from previous year, resulting from impairment charge of GH¢93.8 million compared to prior years' impairment recovery of GH¢ 18.2 million.
The bank posted a strong capital adequacy ratio of 29.2 per cent, 14 percent above the regulatory requirement while average return on equity was 18.5 per cent.
A release on its performance for the period ending September 2018, which made this known, said the client business segments revenue were trending positively over the last nine months evidenced by the increase in liabilities by 34 percent .
Commenting on the results, Chief Financial Officer, Kweku Nimfah-Essuman, said “the bank continued to be disciplined in its focus on sustaining a strong balance sheet which remains structurally liquid, well diversified and conservatively positioned.”
He added “our focus is on providing the right solutions for our clients' needs and effectively engaging our clients at the right scale. We continue to invest in our digital and advisory capabilities.”
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