First Atlantic Bank PLC is leveraging growing customer confidence to expand lending, strengthen its revenue base and improve operational efficiency, as it positions itself for further growth in Ghana and the wider West African market.
Chief Executive Officer, Odun Odunfa, said the Bank’s performance in the first nine months of 2026 reflected the resilience of its business, supported by deposit growth, increased customer activity and disciplined cost management.
Speaking at the Facts Behind the Figures forum organised by the Ghana Stock Exchange (GSE), he said strong customer confidence had enabled the Bank to mobilise deposits and extend credit to more businesses and households while making everyday banking transactions more accessible.
“Our performance in the first nine months of 2026 reflects the resilience of our business. Strong customer confidence has supported deposit growth, enabling us to extend credit to more businesses and households while making everyday transactions more accessible and convenient,” he said.
The Bank’s customer deposits grew by 37% year-on-year to GH¢19 billion, while loans and advances increased by 67% to GH¢2.5 billion as at September 2026.
Total assets expanded by 39% to GH¢21.8 billion, reflecting the growth in deposits and the Bank’s broader balance sheet expansion.
Mr Odunfa said the Bank had maintained cost discipline while continuing to invest in its people, technology and infrastructure to support sustainable growth.
The investments appear to be taking place alongside improvements in operational efficiency, with the cost-to-income ratio declining to 53.5% from 56.7% in the corresponding period of 2025.
Operating income grew by 31% to GH¢821.7 million, outpacing the 23% increase in operating expenses.
The Bank also recorded a 37% increase in net interest income to GH¢524 million, while net fee and commission income rose by 55% to GH¢200 million, reflecting higher transaction volumes and increased customer activity.
Profit before tax increased by 4% to GH¢386 million, while profit after tax rose by 3% to GH¢261 million.
Beyond its domestic operations, the Chief Executive said the Bank’s expansion into Liberia was progressing, describing the development as an important step towards building a stronger regional presence.
He said management would focus on strengthening its position in the Liberian market while deepening relationships with customers in Ghana.
“As we close the year, our priority is to turn our growing customer base into deeper, long-term relationships. We will keep investing in our people, our digital platforms and new products, and we will continue to manage risk prudently so that we deliver sustainable value for all our stakeholders,” he said.
Management is also targeting sustained growth in fee-based income and tighter control of operating expenses, with the objective of keeping cost growth below income growth.
The Bank further indicated that its deposit base provides considerable room to expand lending to businesses and individuals, while maintaining compliance with the Bank of Ghana’s new directive on
