Bayport Savings and Loans more than tripled its profit in the first half of 2026, as a shift toward customer deposits reshaped how the lender funds itself.
Unaudited results for the six months ended June 30 showed profit after tax rising to GH¢82.52 million from GH¢26.47 million a year earlier, a 211.8 percent increase, while profit before tax nearly tripled to GH¢118.26 million from GH¢38.55 million. Net interest income doubled to GH¢220.22 million.
The improvement tracked a continued shift in Bayport’s funding mix. Customer deposits jumped to GH¢1.55 billion from GH¢471.59 million, more than tripling, while borrowings fell to GH¢386.83 million from GH¢481.04 million and loans from shareholders dropped to GH¢30.96 million from GH¢106.55 million, continuing a move away from costlier wholesale funding that the company has pursued since 2025.
Total assets grew 77.1 percent to GH¢2.44 billion, driven by a 68 percent rise in loans and advances to customers, to GH¢1.87 billion, and cash and cash equivalents that more than quadrupled to GH¢325.09 million.
Asset quality improved alongside the growth. The non performing loan ratio fell to 8.1 percent from 12.6 percent a year earlier, continuing a decline that saw the company’s full year 2025 ratio already meet the Bank of Ghana’s maximum NPL threshold set for the end of 2026, a year ahead of schedule. The capital adequacy ratio edged up to 12.2 percent from 11.9 percent, above the regulatory minimum, and the company reported no defaults on statutory liquidity requirements.
Earnings per share rose to 0.7033 pesewas from 0.2256 pesewas. The results extend a run of stronger performance for the payroll lender, which posted profit before tax above GH¢100 million for the first time in full year 2025 after years of relying heavily on borrowings and shareholder funding.
Bayport, a subsidiary of Mauritius based Bayport Management Ltd, is licensed by the Bank of Ghana to provide micro credit and other financial services and operates from 44 locations nationwide, including 10 service centres and 33 agency offices. The results were signed by directors Akwasi Aboagye and Pearl Esua-Mensah.
