Tag: NPLs
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Banks’ deposits grow by 22% to reach GH¢83.46bn
Total deposits of banks increased by 22% as at the end of 2019; according to the latest banking industry report published by the Bank of Ghana. The central bank attributes this to a rebound in confidence in the sector following its reforms which were carried out over the past two years. The banking sector report…
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Improved debt collection reduces banks’ NPLs by 300 million cedis – BoG report
The Non Performing Loans (NPLs) of banks have dropped by 4.2 percent between August 2018 and the same period in 2019. According to data from the Bank of Ghana, the NPLs reduced from 7.21 billion cedis to 6.91 billion cedis. The Bank of Ghana’s report looked at activities of the twenty-three banks as at the…
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Legacy debt repayment: Banks to access another tranche by end of August
Banks that are exposed to the legacy debts within the energy sector say they are expecting some disbursements by the end of this month to defray part of the outstanding debt. They are also anticipating a swift clearing of the remaining amount with Parliament’s approval of the increase in the Energy Sector Levy. The NPP…
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Increased foreign currency deposits contributed to cedi’s depreciation – BoG report
A latest banking sector report has shown that the increased deposits of foreign currency partly contributed to the depreciation of the cedi recorded within the first four months of 2019. According to the banking sector report spanning activities between January to April 2019, foreign currency that were deposited at banks increased by 28.2 percent in…
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Bank of Ghana confident of bringing down banks’ bad loans to about 10 percent
The Bank of Ghana has announced that it has reached an agreement with universal banks over a debt write-off policy that ensures the high non-performing loans ratio in the country is brought down to about 10 percent. The central bank is hopeful that the move will reduce the impact of high NPLs on the books…
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Policy rate: Be measured with expectations of drop in interest rates – Prof. Quartey
Economist with the Institute of Statistical, Social and Economic Research (ISSER), Professor Peter Quartey, has maintained that business may have to be measured with their expectation of a drop in interest rates despite the central bank’s decision to keep the policy rate unchanged at 16 percent. The Monetary Policy Committee (MPC) at the end of…
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Ghana’s debt hits 172.9 billion cedis
The total amount that Ghana owes reached 172.9 billion cedis in November 2018. This is according to data from the Bank of Ghana. The Summary of Economic and Financial data by the central bank shows that between July and November 2018, the country added 13.2 billion cedis to its debt. The figure went up from…
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1.2 billion cedis NPLs write off to end in December
The Bank of Ghana has shifted its projection of a drop in the Non Performing Loans of banks, by two more months. Governor of the Bank of Ghana, Dr. Ernest Addison says he expects the reflection by the end of year. Some industry watchers are also confident the move should afford banks the ability to…
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Ghana’s debt increases to 170.8 billion cedis – BoG
Ghana’s total debt stock has reached 170.8 billion cedis as at September 2018. A summary of economic figures released by the Bank of Ghana shows that between July and August 2018, the country added 11.4 billion cedis to its debt stock. But calculating this as a percentage of GDP, Ghana’s debt represents 57.2 percent. The…
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Private sector dominates banks’ NPLs – BoG report
Ghana’s private sector still dominates with its share of non-performing loans in the banking sector. The latest banking sector report released by the Bank of Ghana shows that the private sector made up as much as 90 percent of all NPLs for the banking sector as at April this year. The Bank of Ghana says…