Bloomberg News

UT Bank of Ghana Rises to One-Week High as Profit Increases

October 24, 2011

Oct. 24 (Bloomberg) -- UT Bank Ltd. of Ghana rose to the highest in a week as profit increased in the nine months through September 30.

The stock gained 1 pesewa, or 3.5 percent, to 30 pesewas as of 2:20 p.m. in the capital, Accra, the highest since Oct. 17.

The bank’s net income jumped 86 percent during the nine months to 8.6 million cedis ($5.4 million), as net interest income climbed to 37.8 million cedis from 27.2 million cedis a year before, it said in a statement e-mailed by the Ghana Stock Exchange today.

--Editors: Peter Branton, Tim Farrand

To contact reporter on this story: Moses Dzawu in Accra at mdzawu@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net.


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