Financial stocks on the Ghana Stock Exchange (GSE) are going through a turbulent period as the confidence crisis in the banking sector continues. Although the central bank Governor has assured customers of the safety of their deposits, the breakdown of trust in financial services among some members of the public continues to burden the sector.
The GSE Financial Stocks Index (GSE-FI) is down 0.66% year-to-date. Six financial stocks have recorded negative returns so far this month and seven are down for the whole year.
See how the financial stocks have performed so far this year to November 13.
| Stock | Nov 1 – Nov 13 | Jan 1 – Nov 13 |
| Access Bank Ghana | 30.00% | -3.70% |
| Agricultural Development Bank | 0.00% | 1.88% |
| CAL Bank Limited | -3.85% | -7.41% |
| Ecobank Ghana Ltd | 12.28% | -1.32% |
| Ecobank Transnational Incorporation | -15.79% | 0.00% |
| Ghana Commercial Bank Limited | -1.17% | 0.79% |
| Mega African Capital Limited | 0.00% | 0.00% |
| Republic Bank | -13.39% | -20.86% |
| Standard Chartered Bank Ghana Ltd. | -3.21% | -16.44% |
| Standard Chartered Bank Ghana Ltd. | 0.00% | -4.17% |
| Societe Generale Ghana Limited | -9.09% | 9.76% |
| Trust Bank Limited (THE GAMBIA) | 0.00% | -42.86% |
Nevertheless, a resurgence in the sector is expected after this year, when the central bank would have been done with its reforms in the sector.