First National Bank records impressive Q1 performance with a significant boost in its capital position

First National Bank Ltd has extended its fiscal betterment into 2025, reporting a nett of GH₵30.68 million in the archetypal quarter, doubling its net for the aforesaid play past year. The show comes connected the backmost of beardown trading income, prudent equilibrium expanse expansion, and a continued boost successful liquidity buffers.
The Q1 2025 results reenforce the gains made successful the anterior twelvemonth erstwhile the slope posted a full-year nett net of GH₵18.24 cardinal aft emerging from a GH₵2.57 cardinal nonaccomplishment successful 2023. This upward trajectory suggests that First National Bank’s strategical initiatives are yielding affirmative results.
Strong maturation successful gross
Total operating income aft impairment provisions recorded an awesome 42% year-on-year maturation to GH₵138.38 million, driven by maturation crossed each gross streams contempt the challenging macro environment.
Resilient profitability contempt outgo pressures.
Operating expenses accrued to GH₵107.70 million, up from GH₵82.99 cardinal successful Q1 2024 owed to ostentation and investments. Despite the rise, the slope achieved a nett earlier taxation of GH₵30.68 million, a 114% summation year-on-year implying stronger maturation successful gross whilst keeping costs successful check. The results bespeak that First National Bank is entering Q2 2025 with stronger operating leverage, adjacent arsenic inflationary outgo pressures stay elevated.

Balance expanse strength: liquidity and capitalisation boosts
The bank’s equilibrium expanse expanded considerably, with total assets expanding to GH₵6.13 billion, up from GH₵4.38 cardinal successful Q1 2024.
Cash and currency equivalents surged to GH₵2.19 billion, up 36% year-on-year and present representing nearly 36% of full assets. The beardown liquidity presumption enhances First National Bank’s agility successful navigating backing shocks and seizing marketplace opportunities.
Total customer deposits rose by 36% to GH₵4.09 billion, a important leap from GH₵3.01 cardinal for the aforesaid play past year. The deposit maturation affirms marketplace assurance and provides a low-cost backing basal for further plus expansion.
Capital presumption
First National Bank’s Capital Adequacy Ratio stood at 20.88% as of March 2025, comfortably supra the regulatory minimum. This is simply a testament to the bank’s recapitalisation strategy.

Credit risk
The NPL ratio ticked up to 13.7%, compared to 12.3% successful Q1 2024, highlighting the continued unit connected recognition prime successful the banking industry. However, it is noteworthy that the 13.7% is importantly amended than the manufacture mean of 22.6% arsenic of February 2025, arsenic reported by Bank of Ghana.

Outlook: dependable amid uncertainty
Management's existent trajectory appears anchored successful 3 strategical areas: franchise growth, superior ratio and outgo control. The Q1 2025 results bespeak that this attack is delivering dependable returns.
With macroeconomic conditions inactive fragile owed to precocious ostentation and evolving fiscal consolidation measures, NorvanReports can task that the bank’s quality to support profitability and recognition subject volition beryllium tested successful consequent quarters. However, its expanded liquidity base, accordant net improvement, and coagulated superior levels supply a beardown instauration for continued growth.
The Q1 show volition fortify First National Bank’s positioning successful Ghana’s competitory banking sector, with its betterment way offering important lessons for peers navigating the post-restructuring economical landscape.

Key Financial Highlights (Q1 2025):
Metric
Q1 2025
Q1 2024
YoY Change

Net Interest Income
GH₵82.20m
GH₵51.83m
+58.6%

Net Fees & Commissions
GH₵22.19m
GH₵18.07m
+22.8%

Net Trading Income
GH₵36.67m
GH₵25.87m
+41.7%

Operating Income (post impair.)
GH₵138.38m
GH₵97.30m
+42.2%

Operating Expenses
GH₵107.70m
GH₵82.99m
+29.7%

Profit Before Tax
GH₵30.68m
GH₵14.30m
+114.7%

Total Assets
GH₵6.13bn
GH₵4.38bn
+39.9%

Customer Deposits
GH₵4.09bn
GH₵3.01bn
+35.9%

Capital Adequacy Ratio (CAR)
20.88%
19.01%
+1.87pp

NPL Ratio
13.7%
12.3%
+1.4pp