Return on equity (ROE) at leading Ghanaian banks dipped last year as the country’s rapid growth was halted by the Covid-19 pandemic, leading to a sharp decline in commodity exports. Nonetheless, ROE remains above 20% at three of the country’s four largest banks.
The west African country’s economy had grown at an average of 7% in 2017-19, according to the World Bank, before experiencing a sharp contraction in the second and third quarters of 2020.
