Letshego Savings and Loans PLC has posted a profit of GHS 66.2 million for the financial year ending December 31, 2024, reflecting a strong financial performance despite challenging economic conditions.
This represents an increase from the GHS 60.9 million profit recorded in 2023, indicating steady growth in the company’s earnings.
The company’s net interest income for the year stood at GHS 474.6 million, supported by GHS 768.1 million in interest income from lending activities. However, impairment allowances and operating expenses impacted overall profitability, with total operating expenses reaching GHS 324 million.
Despite these expenses, Letshego maintained a capital adequacy ratio of 23.2%, well above regulatory requirements, reinforcing its financial stability. The company also recorded a significant increase in total assets, rising from GHS 1.49 billion in 2023 to GHS 1.54 billion in 2024.
With a continued focus on lending and financial inclusion, Letshego’s performance signals resilience and potential for further expansion. The management remains optimistic about sustaining profitability and increasing market share in Ghana’s financial sector.
