Société Générale Ghana PLC reported profit after tax of GH¢150 million for the period ended 30 September 2026, compared with GH¢344.3 million in the corresponding 2025 period.
The 56.4% decline came alongside growth in deposits, loans and assets. The results therefore show a larger banking business producing lower earnings.
Weaker interest earnings and a credit-cost reversal
Interest income fell 31.3% to GH¢750.4 million from GH¢1.09 billion. Net interest income declined 32.4% to GH¢624 million, and operating income fell 23% to GH¢797.1 million.
The accounts recorded a GH¢27.2 million impairment loss on financial assets, compared with a GH¢33 million impairment gain previously. Moving from a gain to a loss reduced the contribution of this line to earnings.
Net fees and commission income increased 31% to GH¢84.4 million, but that improvement did not offset the wider pressure. Operating expenses were GH¢537.8 million, while profit before tax fell to GH¢232.1 million.
Deposits and loans continue to grow
Customer deposits increased 14.4% to GH¢7.16 billion from GH¢6.25 billion in September 2025. Loans and advances rose 8.2% to GH¢4.67 billion.
Total assets increased 7.1% to GH¢11.08 billion and shareholders’ funds reached GH¢2.58 billion.
Capital adequacy improved to 18.52% from 17.90%. However, the non-performing loan ratio increased to 13.98% from 13.51%, while the liquidity ratio declined to 100.43% from 109.68%.
Operating cash flow improves
Operating activities generated GH¢1.13 billion in cash, compared with a GH¢448.1 million outflow in the previous comparable period. This improved cash-flow result is distinct from the decline in accounting profit.
Earnings per share fell to GH¢0.28 from GH¢0.65. EPS measures profit per share; it is not a dividend declaration.
Why this matters
The key question is whether the growing balance sheet can support a recovery in earnings without a further deterioration in credit quality.
Deposits provide funding, but their growth alone does not establish that profitability has improved. Interest margins, impairment charges and expenses remain important when judging the result.
