First Atlantic Bank delivers record profit, cleans up balance sheet in 2025

First Atlantic Bank PLC has closed the 2025 financial year with a historic set of results, more than doubling its profitability and cementing its position as one of the fastest-growing lenders in the Ghanaian banking sector.

The bank, which rebranded from First Atlantic Bank Limited, reported a profit after tax of GH¢482.87 million for the year ended 31 December 2025. This represents a dramatic leap of more than 43 per cent compared to the GH¢337.1 million posted in 2024, underscoring a period of aggressive expansion and operational efficiency.

According to the summary financial statements audited by Deloitte & Touche, the group's total operating income surged to GH¢1.30 billion, up from GH¢1.09 billion in the prior year. This top-line growth was fuelled by a near doubling of net interest income, which jumped from GH¢576 million to GH¢962 million, as the bank capitalised on a higher-yield environment and expanded its earning asset base.

The bank's balance sheet has swollen considerably, with total assets crossing the GH¢19 billion mark for the first time, closing the year at GH¢19.19 billion compared to GH¢13.32 billion in 2024. This expansion was driven largely by a substantial increase in liquidity; cash and balances with banks more than doubled, rising from GH¢4.6 billion to an impressive GH¢8.1 billion.

Deposits, the lifeblood of any retail bank, also saw robust growth. Customer deposits climbed to GH¢16.64 billion, a significant increase from GH¢11.61 billion in the previous year, signalling strong customer confidence and effective deposit mobilisation strategies. Notably, the bank operated with zero deposits from other banks, suggesting a healthy and self-sufficient funding structure.

Despite the rapid asset growth, the bank managed to improve its asset quality metrics. The non-performing loan (NPL) ratio improved markedly to 17.80 per cent, down from 19.14 per cent in 2024, indicating that the loan book is in better health even as it expands. Loans and advances to customers remained relatively stable at just under GH¢1.95 billion.

Capital adequacy also strengthened. The bank's Capital Adequacy Ratio (CAR) rose to 20.61 per cent, up from 16.98 per cent in the prior year, providing a substantial buffer above the regulatory minimum of 13 per cent. The liquidity ratio also firmed up to 143.02 per cent, underscoring the bank's strong capacity to meet short-term obligations.

However, the year was not without its regulatory challenges. The bank recorded one default in prudential requirements during the year, which attracted a sanction of GH¢2,000. This marks an improvement from 2024, when three defaults resulted in penalties totalling GH¢23,820. The bank recorded no defaults in statutory liquidity requirements.

Shareholders will be rewarded for the stellar performance. The bank declared a dividend of GH¢75 million for the year, a significant return to investors. Earnings per share also climbed to 137 Ghana pesewas, up from 101 pesewas in the prior year, reflecting the increased profitability attributable to owners of the parent company.

The bank also benefited from a capital injection during the year, raising an additional GH¢204.3 million in share capital, which bolstered the stated capital to GH¢726 million. Total shareholders' funds attributable to owners of the parent company closed the year at GH¢2.2 billion, up from GH¢1.59 billion.

In a sign of its growing community engagement, the bank significantly ramped up its corporate social responsibility spending, investing GH¢2.74 million in various initiatives during the year, a sharp increase from the GH¢815,000 spent in 2024.

The financial statements were approved by the Board on March 11, 2026, with Chairman Amarquaye Armar and Managing Director Odun Odunfa signing off on behalf of the directors. The audit was led by engagement partner Dorcas Sekum of Deloitte & Touche, who issued an unmodified opinion, confirming the bank's compliance with the Companies Act, the Banks and Specialised Deposit-Taking Institutions Act, and the Bank of Ghana's Corporate Governance Directive.