Republic Bank Ghana promises improved lending to customers, prospective home owners

The Managing Director of Republic Bank (Ghana) PLC Dr. Benjamin Dzoboku has attributed the bank’s sterling performance in 2024 to new measures adopted to improve lending to its customers and reduce non-performing loans.

The bank recorded a profit of GH₵ 210.67 million in 2024 representing an increase of 45% over the GH₵145.03 million posted in 2023.

Speaking on the Super Morning Show on June 26, 2025, Mr. Dzoboku said the bank is looking into the future with optimism to support Ghanaians with affordable loans for their housing needs.

He pointed out for example that Republic Bank has outdoored a product called TIPS that allows customers to pay for their mortgages in a short period.

“If you visit our Mortgage Department which we call the Mortgage Hub, they will tell you. Even though you are paying your loan, you will be having some money being saved in a Sinking Fund for you”, he said.

He explained that the Sinking Fund is buffer that will be further used to support the payment of the loan.

“Even though you are making a payment of your loan, an aspect of the loan is being put in to the Sinking Fund in which within 2 to 3 years can be used to press down the loan. So you can take a loan from us and if you listen to advice, within 5 years, I can guarantee you will finish paying”, he assured.

Mr. Dzoboku encouraged all persons and prospective home owners to visit the bank or its website for more details and take advantage of the product.  

Republic bank 2024 financial performance

Republic Bank’s profit before tax surged to GH₵ 329.04 million in 2024, reflecting strong profitability.

The bank’s total assets also expanded by 42.4%, reaching GH₵ 367.2 billion, while total deposits grew by 38.7% to GH₵ 277.3 billion.

Republic bank Ghana PLC also saw its loans and advances increase by 28.7% to over GH₵ 94.6 billion, outpacing the 22% growth recorded in 2023.

Dr. Dzoboku attributed this robust performance to focused efforts on improving asset quality and operational management.

Notably, the bank succeeded in reducing its non-performing loans (NPL) ratio from 15.87% in 2023 to 15.66% in 2024, signaling improved credit risk management.

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