Bloomberg News

Standard Chartered Ghana Drops Most in 2 Weeks as Profit Falls

October 28, 2011

Oct. 28 (Bloomberg) -- Standard Chartered Bank Ghana Ltd., the biggest lender by market value in the West African nation, fell the most in more than two weeks as profit in the nine months ended Sept. 30 decreased 1.2 percent.

The stock dropped 9 pesewas, or 0.2 percent, to 44.3 cedis by the 3 p.m. close in the capital, Accra, the biggest drop since Oct. 11.

The bank’s net income declined to 58.9 million cedis from 59.6 million cedis a year earlier. Net interest income rose to 113.4 million cedis from 108.8 million cedis, it said in a statement e-mailed by the Ghana Stock Exchange today.

--Editors: Emily Bowers,

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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