Bayport Savings and Loans PLC is positioning itself for a stronger second half of 2026, targeting GH¢436 million in full-year profit after recording GH¢218 million at the end of the first half.
The target would effectively double the company’s half-year profit and place Bayport among the most profitable institutions in Ghana’s financial services sector, according to its Chief Executive Officer, Akwasi Aboagye.
Speaking after the company participated in the Ghana Stock Exchange’s “Facts Behind the Figures” series in Accra, Mr Aboagye said the strong performance reflected the effectiveness of Bayport’s business strategy, operational discipline and growing confidence in its brand.
“I believe that on the path that we are on, we should be able to end the year around GH¢436 million,” he said.
Bayport eyes bigger share of payroll market
A major part of Bayport’s growth strategy is to expand its presence in Ghana’s government payroll lending market, where it currently holds about 33 per cent market share.
The company is targeting at least 50 per cent of the market by 2029, as it seeks to extend access to formal credit, particularly among teachers, civil servants and other public-sector employees.
Mr Aboagye said the decline in interest rates had allowed Bayport to reduce its lending rates, making its loans more affordable for government employees.
“Customers are at the heart of our business. We have grown at a time when interest rates have come down, and that has allowed us to reduce our interest rates so that more civil servants can take loans with us,” he said.
He said the strategy was also supporting financial inclusion by bringing people who previously had limited access to formal financial services into the credit system.
“We want to continue helping teachers and the average public servant to come into the financial net. That is what we stand for,” he added.
NPL ratio remains below regulatory benchmark
Bayport’s financial performance has also been supported by what the company described as prudent risk management.
Mr Aboagye disclosed that the company’s non-performing loan ratio stood at 8.1 per cent at the end of the first half of the year, below the Bank of Ghana’s 10 per cent benchmark.
Management expects the ratio to fall further to about 7 per cent by year-end, with investments in digital systems, loan recovery and risk management expected to support the improvement.
The focus on asset quality comes as Bayport seeks to expand lending without compromising the quality of its loan book.
GSE praises Bayport’s market contribution
The Managing Director of the Ghana Stock Exchange, Abena Amoah, commended Bayport for its performance and its focus on serving teachers and public servants.
She said the company’s role in providing financial services to these groups was important to Ghana’s broader financial inclusion and economic development objectives.
Ms Amoah also disclosed that Bayport had raised more than GH¢725 million through 25 tranches since entering the fixed-income market in 2015.
She expressed optimism that Bayport’s anticipated equity listing would materialise, noting that the GSE was keen to support additional corporate issuances and create more investment opportunities.
Stronger capital market activity
The Bayport outlook comes against a backdrop of strong activity on Ghana’s capital markets.
According to Ms Amoah, the GSE Composite Index had gained 73 per cent so far in 2026.
Trading in the fixed-income market had also reached GH¢281 billion as of August 18, already exceeding the GH¢245 billion recorded throughout 2025.
For Bayport, the combination of lower interest rates, expanding payroll lending, improved asset quality and deeper participation in Ghana’s financial markets provides the foundation for its ambitious full-year target.
If achieved, the GH¢436 million profit would mark a significant step in the company’s growth strategy and reinforce its position as a major player in Ghana’s savings and loans and broader financial services industry.
