Letshego Ghana Savings and Loans Plc made a profit after tax of GHS109.30 million in the first nine months of 2026, up 53.6% from GHS71.14 million a year earlier.
Profit before tax rose 55.5% to GHS150.84 million, according to the lender's unaudited financial statements for the period to 30 September, as reported by NorvanReports.
Cheaper funding drove the gain. Interest income rose 16.9% to GHS844.16 million, while interest expenses fell 26.6% to GHS158.38 million. That lifted net interest income by 35.5% to GHS685.78 million.
The balance sheet shifted towards deposits. Customer deposits grew 12.5% to GHS787.64 million, while borrowings fell 12.7% to GHS531.81 million.
Lending grew, but so did provisions for bad loans. Gross loans rose 17.3% to GHS1.68 billion, but impairment provisions climbed to GHS496.02 million from GHS293.76 million, so the net loan book grew only 4% to GHS1.19 billion. Credit loss expenses rose 40% to GHS224.60 million.
The net non-performing loan ratio fell to 7.1% from 12.3%. A foreign exchange gain of GHS10.36 million, against a loss of GHS22.48 million a year earlier, also helped, while fees and commissions fell to GHS36.50 million from GHS42.63 million.