Ghana?s banking industry recorded GH?3.8 billion bank deposits between July 2011 to July 2012, according to the central bank?s 52nd monetary policy report released September 14, 2012.

?Over the one year period to July 2012, total deposits increased to GH?17.6 billion from GH?13.8 billion,? the policy report said.

The industry?s total assets as at July 2012 stood at GH?24.3 billion compared with GH?19.5 billion in July 2011, it added.

The rise in the banks? total assets within the one-year period, were largely driven by bank deposits, the report observed.

According to the Bank of Ghana (BoG), the quality of the banking industry?s loan portfolio improved in the period under review as ?non-performing loans ratio declined to 13.4% in July 2012 from 16.4% in July 2011.?

On credit conditions, a survey conducted by the BoG in July 2012 revealed that lenders have tightened their credit stance for enterprises and households? credit for mortgages.

?The tightening of credit stance was more pronounced for small and medium sized enterprises on account of inadequate cash flows to support repayment, weak financial performance and inadequate security,? the BoG said.

But the credit stance on households? consumer credit continued to ease, it added.

Private sector credit also continued to show strong growth in the first half year.

The BoG stated that nominal credit grew by 41.3% on a year-on-year basis to GH?10.4 billion in July 2012, compared to 25% a year ago which in real terms, credit to the private sector recorded a 29% annual growth in comparison to 15.4% in July 2011.

By Ekow Quandzie

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