Bayport Savings and Loans PLC achieved a profit of GHS 218 million in the first half of 2026. The company now aims to double this figure, targeting a GHS 436 million profit by the end of the year.
This ambitious target follows a strong performance and reflects the company's strategy to expand credit access. Bayport focuses on improving efficiency and deepening its presence in the government payroll market. This approach aims to make loans more affordable for civil servants and other government employees.
Bayport's performance aligns with broader trends in Ghana's financial sector. Falling interest rates have allowed lenders to reduce their rates, making credit more accessible. The Ghana Stock Exchange (GSE) Composite Index has gained 73 percent this year, indicating a robust market. Fixed-income market trading reached GHS 281 billion by August 18, exceeding the GHS 245 billion recorded for all of 2025. This vibrant market environment supports Bayport's growth ambitions and potential future equity listing.
Mr. Akwasi Aboagye, Chief Executive Officer of Bayport Savings and Loans PLC, confirmed these figures. He stated the company's performance reflects its effective strategy and operational discipline. Mr. Aboagye highlighted growing customer confidence in the Bayport brand. He believes the company is on track to become one of the most profitable financial services firms in Ghana. This includes not just savings and loans companies but the wider financial sector.
Bayport's strategy directly contributes to financial inclusion, bringing credit to underserved populations. The company currently holds about 33 percent of the government payroll lending market. It aims to increase this share to at least 50 percent by 2029. This expansion will help more teachers and public servants access formal financial services. The company's non-performing loan (NPL) ratio was 8.1 percent at half-year. This is below the Bank of Ghana's 10 percent benchmark. Bayport expects this ratio to fall further to seven percent by year-end. Investments in digital systems, risk management, and loan recovery support this projection.
Ms. Abena Amoah, Managing Director of the GSE, commended Bayport's strong performance. She praised its customer-focused approach, especially its support for public servants. Ms. Amoah noted Bayport has raised over GHS 725 million through 25 tranches in the fixed-income market since 2015. She expressed hope for the company's anticipated equity listing. The GSE is keen to support more corporate issuances and broaden investor opportunities. This would further deepen Ghana's capital markets. Bayport's continued growth and market expansion will be key indicators to watch. Its ability to maintain low NPLs while expanding its loan book will be crucial. This performance will also influence investor sentiment towards other financial institutions targeting the public sector.