Ghana: Despite poor performing banking stocks in 2015, Analysts remain optimistic for 2016

Stock market analysts are projecting that banking stocks on the Ghana Stock Exchange (GSE) will perform better next year (2016) than they did this year (2015).

All the banking stocks on the stock exchange with the exception of the Trust bank of Gambia recorded declines in their share prices this year as compared to 2014.

Stock analyst with UMB Stock Brokers, Nana Agyeman Gyamfi explained to Citi Business News the banks didn’t perform well on the bourse because though ‘the banks posted impressive results it didn’t reflect much because investors were trying to look to the long term, for example, Standard Chartered last year announced that they will have challenges with their top and bottom line due to the economic challenges and you can see that the bank’s profit compared to other years has fallen and you can see this with GCB and SGSSB so you can see that investors adopted a wait and see attitude.’

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