Banks in Ghana recorded 60.1 percent profit for 2013, according to the latest Financial Stability Report by the Bank of Ghana.

It was however lower than the 62.9 percent return recorded a year before.

According to the report, the banking industry net interest income registered a growth of 50 percent last year compared with 40 percent growth in December 2012.

However, income from loans continued to be the main source of revenue for the industry and constituted 45.1 percent of total income in December 2013.

This is compared with 47 percent in December 2012. The share of income from fees and commission also decreased to 13.4 percent in December 2013 from 17.7 percent in December 2012.

However, investment income share improved to 29.3 percent in December 2013 from 23.5 percent in December 2012.

Banks interest spread also increased to 11.6 percent in December 2013 from 10.3 percent in December 2012.

The industry’s capital adequacy ratio also remained strong at 18.5 percent last year. The non–performing loans to gross loans ratio was 12 percent in December 2013 as against 13.2 percent in December 2012.

Credit to the private sector formed 90 percent of the total banking sector’s non-performing loans at the end of December 2013. On a whole, the Central Bank said the banking sector continued to record significant returns and well liquid.