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Ghanaian (GSE) Financials Sector Analysis
UpdatedAug 13, 2025
DataAggregated Company Financials
Companies12
- 7D0.4%
- 3M20.1%
- 1Y67.3%
- YTD44.3%
The Financials is pretty flat in the last 7 days, but Trust Bank has stood out, gaining 10.0%. As for the the longer term, the industry is up 67% over the past 12 months. Earnings are forecast to grow by 20% annually.
Sector Valuation and Performance
Has the Ghanaian Financials Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 13 Aug 2025 | GH₵17.8b | GH₵19.1b | GH₵5.3b | 3x | 3.4x | 0.9x |
| Fri, 11 Jul 2025 | GH₵17.7b | GH₵18.4b | GH₵5.1b | 2.8x | 3.5x | 1x |
| Sun, 08 Jun 2025 | GH₵15.9b | GH₵18.4b | GH₵5.0b | 2.5x | 3.2x | 0.9x |
| Tue, 06 May 2025 | GH₵14.5b | GH₵18.2b | GH₵5.0b | 2.5x | 2.9x | 0.8x |
| Thu, 03 Apr 2025 | GH₵13.9b | GH₵17.4b | GH₵4.8b | 2.1x | 2.9x | 0.8x |
| Sat, 01 Mar 2025 | GH₵12.5b | GH₵17.6b | GH₵4.3b | 1.9x | 2.9x | 0.7x |
| Mon, 27 Jan 2025 | GH₵11.7b | GH₵16.8b | GH₵3.9b | 2.5x | 3x | 0.7x |
| Wed, 25 Dec 2024 | GH₵11.8b | GH₵16.8b | GH₵3.9b | 2.5x | 3x | 0.7x |
| Fri, 22 Nov 2024 | GH₵11.7b | GH₵16.5b | GH₵3.9b | 2.5x | 3x | 0.7x |
| Sun, 20 Oct 2024 | GH₵9.5b | GH₵15.3b | GH₵4.4b | 2.2x | 2.2x | 0.6x |
| Tue, 17 Sep 2024 | GH₵9.2b | GH₵15.0b | GH₵4.3b | 2.6x | 2.1x | 0.6x |
| Thu, 15 Aug 2024 | GH₵9.0b | GH₵14.8b | GH₵4.3b | 2.3x | 2.1x | 0.6x |
| Sat, 13 Jul 2024 | GH₵8.8b | GH₵14.4b | GH₵4.1b | 2.1x | 2.1x | 0.6x |
| Mon, 10 Jun 2024 | GH₵10.6b | GH₵14.9b | GH₵3.7b | 2.5x | 2.8x | 0.7x |
| Wed, 08 May 2024 | GH₵10.2b | GH₵14.7b | GH₵3.7b | 2.5x | 2.8x | 0.7x |
| Fri, 05 Apr 2024 | GH₵10.1b | GH₵14.3b | GH₵3.5b | 2.7x | 2.9x | 0.7x |
| Sun, 03 Mar 2024 | GH₵9.9b | GH₵7.2b | -GH₵809,347,297.00 | 3.7x | -12.2x | 1.4x |
| Tue, 30 Jan 2024 | GH₵9.6b | GH₵6.9b | -GH₵813,684,824.00 | 3.6x | -11.8x | 1.4x |
| Thu, 28 Dec 2023 | GH₵9.6b | GH₵6.9b | -GH₵814,948,350.00 | 3.7x | -11.8x | 1.4x |
| Sat, 25 Nov 2023 | GH₵10.4b | GH₵6.9b | -GH₵815,011,954.00 | 3.7x | -12.7x | 1.5x |
| Mon, 23 Oct 2023 | GH₵9.9b | GH₵6.0b | -GH₵1,086,091,414.00 | 3x | -9.1x | 1.7x |
| Wed, 20 Sep 2023 | GH₵9.4b | GH₵6.0b | -GH₵1,086,091,414.00 | 3x | -8.6x | 1.6x |
| Fri, 18 Aug 2023 | GH₵8.1b | GH₵6.0b | -GH₵1,086,091,414.00 | 3x | -7.5x | 1.4x |
| Sun, 16 Jul 2023 | GH₵8.3b | GH₵5.1b | -GH₵1,292,308,442.00 | 2.7x | -6.4x | 1.6x |
| Tue, 13 Jun 2023 | GH₵8.3b | GH₵5.4b | -GH₵1,319,121,377.00 | 4x | -6.3x | 1.5x |
| Thu, 11 May 2023 | GH₵8.5b | GH₵8.9b | GH₵1.7b | 4.8x | 4.9x | 1x |
| Sat, 08 Apr 2023 | GH₵9.3b | GH₵10.8b | GH₵2.8b | 2.5x | 3.4x | 0.9x |
| Mon, 06 Mar 2023 | GH₵9.8b | GH₵10.8b | GH₵2.8b | 3.3x | 3.6x | 0.9x |
| Wed, 01 Feb 2023 | GH₵10.6b | GH₵10.8b | GH₵2.8b | 3.7x | 3.8x | 1x |
| Fri, 30 Dec 2022 | GH₵10.7b | GH₵10.7b | GH₵2.8b | 3.7x | 3.9x | 1x |
| Sun, 27 Nov 2022 | GH₵10.9b | GH₵10.8b | GH₵2.8b | 3.7x | 3.9x | 1x |
| Tue, 25 Oct 2022 | GH₵10.8b | GH₵10.7b | GH₵3.0b | 3.1x | 3.7x | 1x |
| Thu, 22 Sep 2022 | GH₵10.9b | GH₵10.7b | GH₵2.9b | 3.4x | 3.7x | 1x |
| Sat, 20 Aug 2022 | GH₵10.9b | GH₵10.7b | GH₵2.9b | 3.1x | 3.7x | 1x |
Price to Earnings Ratio
3.7x
Current Industry PE
- Investors are pessimistic on the Ghanaian Financials industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 3.4x which is higher than its 3-year average PE of -0.26x.
- The industry is trading close to its 3-year average PS ratio of 0.99x.
Past Earnings Growth
- The earnings for companies in the Financials industry have grown 22% per year over the last three years.
- Revenues for these companies have grown 21% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Ghanaian Financials sector?
| GH Market | 6.30% | |
| Financials | 0.40% | |
| Banks | 0.41% | |
| Mortgage Finance | 0% | 0 |
| Capital Markets | 0% | 0 |
| Insurance | 0% | 0 |
Industry PE
- Investors are most optimistic about the Banks industry which is trading above its 3-year average PE ratio of 0.47x.
- Analysts are expecting annual earnings growth of 20.3%, which is lower than the prior year's growth of 47.3% per year.
- Investors are most pessimistic about the Insurance industry, which is trading close to its 3-year average of 2.8x.
Forecasted Growth
- Analysts are most optimistic on the Banks industry, expecting annual earnings growth of 20% over the next 5 years.
- However this is lower than its past earnings growth rate of 47% per year.
- In contrast, the Banks industry is expected to see its earnings grow by 20% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| TBL Trust Bank | GH₵1.10 | 10.0% +GH₵40.0m | n/a | PB1.7x | |
| EGH Ecobank Ghana | GH₵8.91 | 1.1% +GH₵32.3m | 46.1% | PB0.5x |