Republic Bank (Ghana) Limited ( half year 2019 Interim Report

We have extracted below the Chairman’s Statement from the 2019 half year interim report of Republic Bank (Ghana) Limited (, listed on the Ghana Stock Exchange:

1. Significant accounting policies

The unaudited consolidated and separate financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) and interpretations issued by the International Accounting Standards Board (IASB) and the International Financial Reporting Interpretations Committee (“IFRIC”) as adopted by the Institute of Chartered Accountant Ghana (ICAG) and in a manner required by the Banks and Specialised Deposit–Taking Institutions Act, 2016 (Act 930) and the Companies Act 1963 (Act 179).

Basis of preparation

The unaudited Consolidated and Separate Financial Statements have been extracted from the unaudited consolidated and separate financial statements of the Bank and Group in accordance with the International Financial Reporting Standards and in a manner required by the Companies Act 1963, Act (179) and the Banks and Specialised Deposit -Taking Institutions Act, 2016 (Act 930).

2. Quantitative Disclosures



Capital Adequacy Ratio (%)27.1018.74
Non-Performing Loan (NPL) Ratio (%)17.1120.71

3. Qualitative Disclosures

a. Dominant Risks

The Bank is exposed to the following risks:

    • Credit Risk
    • Liquidity Risk
    • Operational Risk
    • Market Risk

The Board of Directors established the Bank’s Risk Management Frameworks and Assets and Liabilities Committee (ALCO) to be responsible for the monitoring of the Bank’s risks. The Bank has Risk Management and Compliance Department which is guided by the Anti Money Laundering Act 2008 (Act 749 as amended), Anti-Terrorism Act 2008 (Act 762), all Regulations under the enactments and of policy and procedure manuals which have been instituted by the Board of Directors and Management. A comprehensive departmental manual has established a framework within which Management effectively manages and controls risks. The tasks involve in the risk management functions are to identify, define, measure, control, monitor and mitigate potential events that could impair the ability of the Group to generate stable and sustainable financial results from its operations.

b. Risk management, compliance frameworks and measurement
All risks are qualitatively and quantitatively evaluated on a recurring basis. Management understands the degree and nature of risk exposures on decisions regarding allocation of resources. Risk assessment is validated by the risk department which also tests the effectiveness of risk management activities and makes recommendations for remedial action. The Bank also identifies risk by evaluating the potential impact of internal and external factors, business transactions and positions. Once the risks are identified, various mitigating measures are put in place to regulate the degree of risks involved.

4. Defaults in statutory liquidity and accompanying sanctions

Default in Statutory Liquidity (Times)NilNil
Default in Statutory Liquidity Sanctions (GHS’000)NilNil

“The financial statements do not contain untrue statements, misleading facts, or omit material facts, to the best of our knowledge.”

Charles William

Zwennes Farid Antar
Managing Director