Bayport Savings and Loans PLC has reaffirmed its commitment to easing the financial burden on government employees by offering them affordable credit.
He said that one in every four government worker currently had a loan facility with the company.
Speaking at the Ghana Stock Exchange’s (GSE) “facts-behind-the-figures” session in Accra on Thursday, the Managing Director of Bayport, Mr Kwesi Aboagye, the payroll lender, which remains the largest financier of public sector workers, said it recorded strong growth in the first half of 2025, buoyed by robust lending to government employees.
He said the performance of his outfit reflected the company’s three-pronged strategy of maintaining an efficient cost structure, attracting cheaper deposits through its brand strength and digital transformation, and deepening its penetration of the payroll lending market.
“We continue to lend to government sector workers — teachers, doctors, nurses, and ministerial staff. This has powered our growth alongside disciplined cost management and strong deposit mobilisation,” Mr Aboagye stated.
According to him, Bayport’s cost-to-income ratio had consistently declined since 2020, signalling improved operational efficiency.
On the back of these gains, Mr Aboagye said Bayport had reduced its lending rates by six per cent effective August 1, 2025.
The MD also indicated that the reduction was made possible by improved macroeconomic conditions, particularly fiscal discipline in government treasury operations, which had allowed Bayport to raise funds at more competitive rates.
“We believe that once government re-enters the market with competitive rates, it will create room for us to further reduce costs and deliver more value to customers and stakeholders,” he noted.
The Deputy Managing Director of the GSE, Mr Frank Berle, lauded Bayport for meeting its continuous listing obligations since issuing a corporate bond in 2015.
He stated that Bayport’s bonds remained among the most actively traded on the market, underscoring its strong corporate governance and financial performance.
“The Exchange has confidence in Bayport’s growth trajectory and urges other listed companies to emulate its example,” Mr Berle stressed.
Providing a broader market update, he disclosed that the composite index had gained 39.41 per cent so far in 2025, while the financial stocks index had risen by 43.29 per cent, reflecting strong investor confidence. On the fixed income market, total volume traded as of August 20 stood at GH¢143.21 billion, up 51.33 per cent from GH¢94.16 billion recorded in the same period last year.
Mr Berle encouraged more companies to take advantage of both the equity and fixed income markets to raise affordable capital and support business expansion.
BY KINGSLEY ASARE