STANDARD CHARTERED BANK (SCB) APPOINTS A DIRECTOR

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CAL Bank & StanChart’s Earnings up for 3rd Quarter

CAL:
CAL Bank Ltd, (CAL) a GSE listed stock reported a 9-months profit after tax of GHS 64.86 million, up 115% year on year. Total Assets grew by 39% from GHS1.02 billion in Q3 2012, to GHS 1.42 billion. The bank experienced a 50.3% growth in the loan book, from GHS 639.00 million in Q3 2012, to GHS 960.27 million in Q3 2013.

SCB:
Standard Chartered Bank, (SCB) reported an 80.4% year on year growth in net profits for Q3 2013, from GHS80.19 million in Q3’12 to GHS 144.62 million. Total assets of the bank increased by 54.9% to GHS 3.49 billion. 

Which Bank is best for me? Find out their Average Interest on deposits

I was reading a very interesting and educative article written by Nana Otuo Acheampong, Head, OTCEER in today’s issue of the Business and Financial Times (B&FT) and would like to share some of his research findings. The article is titled “WHICH BANK IS BEST FOR ME”? In this article, he tackled the question I get from people on daily basis about what bank they should deposit their monies in and what bank is good for them. People contact me when they want to deposit monies at the banks to know of the various interests on the deposits.

Others call to know about what banks give the best interest on Agricultural loans, loans for mortgage, loans for construction and other forms of loans. The writer ranked the 25 banks in the country indicating their various average interests on deposits, and those paid on agricultural Loans etc. And using the Consensus Model of Base rate determination for the banking industry, he ranked the banks based on Base Rates, from Standard Chartered Bank (SCB) – 12.37% to First Atlantic Bank – 26.95%.


Below are the Top 5 and Bottom 5 banks for Average Interest paid on deposits.

   TOP 5 Banks 


Banks
Average Interest on Deposits
1. Bank of Africa
15.94%
2. Guaranty Trust Bank
15.01%
3. Bank of Baroda
13.89 %
4. First Atlantic Bank
12.94%
5. Fidelity Bank
12.18%



  Bottom 5 banks

1. Barclays Bank
5.49%
2. HFC Bank
5.17%
3. Ghana Commercial bank
4.60%
4. Agric. Devt. Bank
4.19%
5. Standard Chartered bank
3.94%

 I would advise you look for today’s B&FT if you can, and read the full article on page 9 and page 28.

Standard Chartered Bank $SCB has announced a dividend of GH¢0.0672 per pref. share

In a Press Release issued on 26th Feb. 2013, Standard Chartered Bank, which is listed on the Ghana Stock Exchange announced the following about their dividend payment on their preference shares. (SCB Pref. :GSE);

Dividend
Standard Chartered Bank (SCB) has announced a dividend of GH¢0.0672 per preference share in respect of the dividend period 30th September, 2012 to 28th March, 2013.

Qualifying date
All preference shareholders registered in the books of SCB at the close of business on Wednesday, 13th March, 2013 will qualify for the dividend.

Closure of Register
The Register of preference shareholders will be closed on Thursday, 14th March, 2013.

Ex-Dividend Date
The ex-dividend date has been set as Monday, 11th March, 2013. Consequently, an investor purchasing SCB preference shares before this date will be entitled to the dividend. However, an investor buying SCB preference shares on or after Monday, 11th March, 2013will not be entitled to the dividend.

Dividend Payment Date
The dividend of GH¢0.0672 per preference share will be paid on Thursday, 28th March, 2013.

Standard Chartered Bank (SCB) to issue bonus shares of no par value

Following the approval by shareholders of  Standard Chartered Bank Ghana Limited (SCB) at its Annual General Meeting (AGM) held at the National Theatre on April 25, 2012, the Company has announced a Bonus Issue of 96,256,070 ordinary shares of no par value (the Issue) on the Ghana Stock Exchange.
  The Issue will be in a ratio of five (5) new shares for every one (1) existing share held.







Source: GSE

Ghana Stock Exchange (GSE): Market Update: 08.05.12

In today’s trading on the Ghana Stock Exchange, the GSE Composite Index went up by 7.13 point to close at 1,059.64 points. A gain in the share price of Ecobank Transnational Incorporated (ETI) held off the losses in two other equities to push the Index.
Since ETI is a financial stock, the GSE Financial Stock Index also closed at 921.40 points from a previous of 910.92 points. This Index is still trading below the base index of 1000 points. As reported by CAL Brokers (CBL), the overall market return climbed to 9.35%.
The volume of shares traded increased by 57.81% amounting to a 12.93% increase in value, compared to the previous session. About 0.28 million shares valued at GHS 0.11 million were traded.
Out of the total volume traded, GOIL out-performed all other equities by trading 83.45 % of volume and this is about 77.09% of the traded value.
ETI was the only gainer and although it closed at GHS 0.14 from GHS 0.13 (1 pesewa gained), it had the capacity to move the market index up by some points despite the loses recorded by Standard Chartered Bank (SCB) [ -0.1%] and TOTAL [-0.15%] to close at GHS 51.30 and GHS 26.14 respectively.

Courtesy: Ghana Stock Exchange & CAL Brokers Ltd (CBL)

Dividend Payments released for some companies on the Ghana Stock Exchange

The time has come again when shareholders look up to their various companies hoping dividends would be paid. Dividend investors are also looking for dividend stocks on the Ghana Stock Exchange whiles other type of investors hope the profits would be plough back for the growth of the companies.  This is the time where preference shareholders get paid first before the ordinary shareholders.

Some companies on the exchange are planning for their Annual General Meetings (AGM) and hoping to pay dividend for the financial year. Let’s take a closer look at what directors of those companies have decided to pay.
Companies
Dividend per share(GH cedis)
Payment Date
Standard Chartered Bank (SCB)
3.05
May 31, 2012
Ecobank Ghana (EBG)
0.24
May 18, 2012
Benso Oil Palm Plantation (BOPP)
0.0690
June 29, 2012
SG-SSB
0.04
April 30, 2012
HFC Bank (HFC)
0.022
May 14, 2012
Trust Bank Limited (The Gambia) (TBL)
20 butus
April 12, 2012
PBC Ltd (PBC)
0.0173
April 30, 2012
SCB-PREF
0.0324
March 30, 2012
For most of these stocks, the qualifying dates for their dividend payment are in March and April 2012. This simply means every potential investor who wants to enjoy the above dividend payments must buy the shares of those companies and be registered in their books before March or April. SCB, EBG and HFC for instance, have their qualifying dates on April 20th, 19th and 18th, 2012 respectively, therefore investors must note these else would have to wait for another financial year to enjoy dividend payments.
AGMs
Ecobank Ghana ltd, HFC Bank Gh ltd and Ayton Drugs Manufacturing Company ltd planned to go for their Annual General meetings on April 27th, 26th and 5th respectively. SG-SSB limited to have theirs on March 30th whiles Benso Oil Palm Plantation Ltd planned for May 3rd, 2012.
Shareholders must do well to attend these meetings in order to get a better knowledge of the company and its plans for the future.
Keep investing, especially in the Ghanaian financial market.