Barclays Bank Ghana recorded a profit after tax of 386.17 million cedis.

The Finance Director at Barclays Bank Ghana, Antoinette Kwofie said they are optimistic about sustaining this growth and contribution to the new ABSA brand from this year onwards.

READ ALSO: Police officer, Soldier, one other arrested for allegedly robbing bank customers

Antoinette Kwofie also explained the reasons accounting for the bank’s performance.

In 2017 also, the bank’s income such as interests on loans, as well as fees and commissions charged for use of ATMs for instance, went up 887.29 million cedis in 2017.

The bank also spent a bit more on its expenditure including income taxes as well as personnel expenses in 2017.

Total expenses amounted to 337 million cedis in 2017 against the 291.79 million cedis recorded in the preceding year (2016).

READ ALSO: Ghana navy rescue vessel hijacked by Nigerian pirates

She said the improved efficiency of the bank led to the profitability.

“This year you will see a growth of 12.7 percent; between 2015 and 2016, you see a higher year on year growth compared to this figure. So the operational efficiency that we are putting in place to deliver better value to the customers and also to keep our cost within a manageable range is what is leading to the declining growth,” she stated.

Also, weighing Barclays Bank’s assets against its liability, which is the capital adequacy ratio, stood at 20.45 percent against 19.04 percent in 2016.

Meanwhile, the Non-Performing Loan ratio stood at 13.6 percent compared to 19.17 percent.