Ghana Commercial Heads for 1-Year High After Profit: Accra Mover

Ghana Commercial Bank Ltd., the biggest lender by branch network in the West African nation, headed for the highest in more than a year after saying profit more than doubled in the nine months through Sept. 30.

The stock gained 1 percent to 2.05 cedis as of 2:34 p.m. in the capital, Accra, the highest intraday level in almost two weeks. A close at this price would be the highest since Oct. 10, 2011.

Net income rose to 87.6 million cedis ($47 million) from 38.3 million cedis a year earlier, the company said in a statement e-mailed by the Ghana Stock Exchange today. Net interest income, the money banks make from loans, increased 36 percent to 213.1 million cedis.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE