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Ghanaian (GSE) Financials Sector Analysis
UpdatedMar 02, 2026
DataAggregated Company Financials
Companies13
- 7D15.7%
- 3M82.4%
- 1Y196.1%
- YTD66.5%
Over the last 7 days, the Financials industry has risen 16%, driven by gains from Societe Generale Ghana of 52%. Meanwhile, CalBank actually underperformed within the industry, shrinking 6.4% in the last week. In the last 12 months, the industry was up 196%. As for the next few years, earnings are expected to grow by 24% per annum.
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 |
|---|---|---|---|---|---|---|
| Mon, 02 Mar 2026 | GH₵66.2b | GH₵22.2b | GH₵7.2b | 8.7x | 9.2x | 3x |
| Wed, 28 Jan 2026 | GH₵42.2b | GH₵22.5b | GH₵7.2b | 5.8x | 5.8x | 1.9x |
| Fri, 26 Dec 2025 | GH₵34.8b | GH₵21.2b | GH₵6.8b | 4.3x | 5.1x | 1.6x |
| Sun, 23 Nov 2025 | GH₵32.0b | GH₵21.2b | GH₵6.8b | 4.1x | 4.7x | 1.5x |
| Tue, 21 Oct 2025 | GH₵22.1b | GH₵20.2b | GH₵6.2b | 3.3x | 3.6x | 1.1x |
| Thu, 18 Sep 2025 | GH₵18.6b | GH₵20.2b | GH₵6.2b | 2.8x | 3x | 0.9x |
| Sat, 16 Aug 2025 | GH₵17.8b | GH₵19.1b | GH₵5.3b | 3x | 3.4x | 0.9x |
| Mon, 14 Jul 2025 | GH₵17.5b | GH₵18.4b | GH₵5.1b | 2.8x | 3.5x | 1x |
| Wed, 11 Jun 2025 | GH₵16.0b | GH₵18.4b | GH₵5.0b | 2.5x | 3.2x | 0.9x |
| Fri, 09 May 2025 | GH₵14.6b | GH₵18.2b | GH₵5.0b | 2.7x | 2.9x | 0.8x |
| Sun, 06 Apr 2025 | GH₵14.0b | GH₵17.4b | GH₵4.8b | 2.1x | 2.9x | 0.8x |
| Tue, 04 Mar 2025 | GH₵12.5b | GH₵17.6b | GH₵4.3b | 1.9x | 2.9x | 0.7x |
| Thu, 30 Jan 2025 | GH₵11.7b | GH₵16.6b | GH₵3.9b | 2.2x | 3x | 0.7x |
| Sat, 28 Dec 2024 | GH₵11.8b | GH₵16.8b | GH₵3.9b | 2.5x | 3x | 0.7x |
| Mon, 25 Nov 2024 | GH₵11.7b | GH₵16.5b | GH₵3.9b | 2.5x | 3x | 0.7x |
| Wed, 23 Oct 2024 | GH₵9.6b | GH₵15.3b | GH₵4.4b | 2.2x | 2.2x | 0.6x |
| Fri, 20 Sep 2024 | GH₵9.3b | GH₵15.0b | GH₵4.3b | 2.6x | 2.1x | 0.6x |
| Sun, 18 Aug 2024 | GH₵9.0b | GH₵14.8b | GH₵4.3b | 2.4x | 2.1x | 0.6x |
| Tue, 16 Jul 2024 | GH₵8.8b | GH₵14.4b | GH₵4.1b | 2.1x | 2.1x | 0.6x |
| Thu, 13 Jun 2024 | GH₵10.6b | GH₵14.9b | GH₵3.7b | 2.5x | 2.8x | 0.7x |
| Sat, 11 May 2024 | GH₵10.2b | GH₵14.7b | GH₵3.7b | 2.5x | 2.8x | 0.7x |
| Mon, 08 Apr 2024 | GH₵10.1b | GH₵14.3b | GH₵3.5b | 2.7x | 2.9x | 0.7x |
| Wed, 06 Mar 2024 | GH₵9.9b | GH₵7.2b | -GH₵809,347,297.00 | 3.7x | -12.2x | 1.4x |
| Fri, 02 Feb 2024 | GH₵9.6b | GH₵7.4b | -GH₵790,174,277.00 | 3.6x | -12.2x | 1.3x |
| Sun, 31 Dec 2023 | GH₵9.6b | GH₵6.9b | -GH₵815,294,621.00 | 3.7x | -11.8x | 1.4x |
| Tue, 28 Nov 2023 | GH₵10.4b | GH₵6.9b | -GH₵814,993,303.00 | 3.7x | -12.7x | 1.5x |
| Thu, 26 Oct 2023 | GH₵10.0b | GH₵6.0b | -GH₵1,086,091,414.00 | 3x | -9.2x | 1.7x |
| Sat, 23 Sep 2023 | GH₵9.4b | GH₵6.0b | -GH₵1,086,091,414.00 | 3x | -8.7x | 1.6x |
| Mon, 21 Aug 2023 | GH₵8.2b | GH₵6.0b | -GH₵1,086,091,414.00 | 3x | -7.5x | 1.4x |
| Wed, 19 Jul 2023 | GH₵8.3b | GH₵5.1b | -GH₵1,292,308,442.00 | 2.7x | -6.4x | 1.6x |
| Fri, 16 Jun 2023 | GH₵8.3b | GH₵5.4b | -GH₵1,318,839,718.00 | 4x | -6.3x | 1.5x |
| Sun, 14 May 2023 | GH₵8.5b | GH₵8.9b | GH₵1.7b | 4.8x | 4.9x | 1x |
| Tue, 11 Apr 2023 | GH₵9.3b | GH₵10.8b | GH₵2.8b | 2.5x | 3.4x | 0.9x |
| Thu, 09 Mar 2023 | GH₵9.8b | GH₵10.8b | GH₵2.8b | 3.3x | 3.6x | 0.9x |
Price to Earnings Ratio
3.6x
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 9.2x which is higher than its 3-year average PE of -0.11x.
- The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 3.0x.
Past Earnings Growth
- The earnings for companies in the Financials industry have grown 38% per year over the last three years.
- Revenues for these companies have grown 27% 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 | 8.17% | |
| Financials | 15.74% | |
| Insurance | 53.58% | |
| Banks | 14.85% | |
| Mortgage Finance | 0% | 0 |
| Capital Markets | 0% | 0 |
Industry PE
- Investors are most optimistic about the Banks industry which is trading above its 3-year average PE ratio of 0.64x.
- Analysts are expecting annual earnings growth of 23.6%, which is higher than its past year's earnings growth of 16.8% per year.
- Investors are most pessimistic about the Insurance industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 2.5x.
Forecasted Growth
- Analysts are most optimistic on the Banks industry, expecting annual earnings growth of 24% over the next 5 years.
- This is better than its past earnings growth rate of 17% per year.
- In contrast, the Banks industry is expected to see its earnings grow by 24% 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 | |
|---|---|---|---|---|---|
| SOGEGH Societe Generale Ghana | GH₵10.40 | 41.7% +GH₵2.2b | 593.3% | PB2.9x | |
| ACCESS Access Bank (Ghana) | GH₵38.55 | 35.7% +GH₵1.8b | 465.2% | PB3.1x | |
| GCB GCB Bank | GH₵38.25 | 19.4% +GH₵1.6b | 487.6% | PB1.8x | |
| SCB Standard Chartered Bank Ghana | GH₵39.05 | 33.0% +GH₵1.3b | 56.1% | PB2.2x | |
| EGH Ecobank Ghana | GH₵53.00 | 3.9% +GH₵635.4m | 748.0% | PB2.5x |