May 30, 2012 / 1:37 PM / 5 years ago

UPDATE 1- Ghana's GCB says Q1 net profit up 18 pct

(Adds full-year 2011 results)

ACCRA, May 30 (Reuters) - Ghana Commercial Bank said on Wednesday that its net profit for the three months to March rose 18 percent to 23.384 million cedis ($12.43 million) from 19.764 million cedis a year ago.

The bank said net interest income for the first quarter rose to 58.373 million cedis from 54.273 million cedis, representing 7.5 percent growth.

Basic Earnings Per Share were up to 0.35 cedis from 0.30 for the same period in 2011, it said.

However, its net profit for the twelve months to December 2011 fell nearly 65 percent to 17.972 million cedis from a restated 50.880 million cedis in 2010, while net interest income slides nearly 28 percent to 206.812 million in the same period.

The bank said it would be proposing the payment of a final dividend of 0.07 cedis per share for the 2011 financial year. (Reporting by Christian Akorlie; Writing by Bate Felix)

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