ADVERTISEMENT

Here are the banks in Ghana on the banking stocks to watch this 2020, according to Databank Research

Databank Research has listed CalBank, GCB Bank and Société Generale Ghana as the banking stocks to watch in 2020.

Here are the banks in Ghana on the banking stocks to watch this 2020, according to Databank Research

These stocks, according to the research, are currently trading below their book values but generating high returns relative to their peers.

ADVERTISEMENT

Analysts are hopeful these stocks will exceed expectations.

“We expect CalBank’s earnings momentum to remain strong, driven by strong low-cost deposit mobilisation through the agency banking module along with robust loan book expansion targeting the SME sector”, Databank Research pointed out.

The bank secured a $108 million term facility from OPIC and Citi bank in December 2019 to fund its loan book expansion.

On the other hand, Société Generale Ghana should see a stronger loan book expansion and profitability aided by efficiency gains from its ongoing digitisation drive.

The bank’s expansion into the retail market could be supported by its strong brand equity.

Also, GCB Bank’s bottom line is projected to grow at 39 percent for 2020.

The key drivers include aggressive loan book expansion, strong low-cost deposit mobilisation through agency banking and efficiency gains from digitisation.

Cal, GCB and Société Generale are trading at 95 pesewas, GHS4.85 and 73 pesewas per share.

The banking stocks listed on the GSE are Access, ADB, Cal, Ecobank Ghana, Ecobank Transnational Incorporated, GCB, Republic Bank, Stanchart, Société Generale and Trust Bank Gambia.

ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Linet Toto excited as she unveils sleek ride after 1 month in office [Photos]

Linet Toto excited as she unveils sleek ride after 1 month in office [Photos]

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Diwali 2022: Is Monday a public holiday in Kenya?

Diwali 2022: Is Monday a public holiday in Kenya?

UNESCO names Senegal as the true home of Jollof Rice over Ghana and Nigeria

UNESCO names Senegal as the true home of Jollof Rice over Ghana and Nigeria

Top 10 African countries with the highest economic prospects for 2023

Top 10 African countries with the highest economic prospects for 2023

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Mathias Pogba brands Paul Pogba 'a so-called Muslim steeped in witchcraft' amid fetish claims about Kylian Mbappe

Mathias Pogba brands Paul Pogba 'a so-called Muslim steeped in witchcraft' amid fetish claims about Kylian Mbappe

Referee behind chaos at AFCON was rushed to hospital after match

Referee behind chaos at AFCON was rushed to hospital after match

ADVERTISEMENT