A total of 86,719 assets were registered as collateral in the 3rd quarter of 2023, the quarterly Collateral Registry Report from the Bank of Ghana has revealed.
This is up from 76,874 assets registered during the same year in 2022 and 81,180 recorded in quarter 2, 2023.
According to the report, movable assets constituted a share of 70.0%, the largest proportion of the registered collateral for loans granted within the reporting period.
Immovable assets had the lowest proportion of registered collateral for loans granted with a 1.9% share.
Both Immovable and Movable assets (e.g., Company/Business Assets) accounted for 28.1% of the total number of collateral registered. The major collateral types used to secure loans were cash and inventories/stock of goods.
Realisation of security: 116 requests received from lending institutions
In terms of realisation of security interests, the registry received a total of 116 realisation requests from various lending institutions.
To this end, 70 Memorandum of No Objection certificates were issued in the 3rd quarter of 2023 to facilitate collateral enforcement. This compares with 109 certificates issued in the same period in 2022.
Banks were the highest recipients with 32 Memorandum of No Objection certificates, representing 45.7%, followed by Savings and Loans Companies with 31 Memorandum of No Objection certificates, representing 44.3 percent.
Microfinance Companies also received a total of 5 Memorandum of No Objection certificates representing 7.1%. Finance Houses and Other lender types received one Memorandum of No Objection certificate each, representing 2.8%.
Latest Stories
-
Re: Starlink operations are illegal in Ghana
10 hours -
Breaking with tradition in Malawi: Communities band together to protect girls’ rights
10 hours -
We remain opposed to 2024 budget – Minority insists
11 hours -
Use indigenous solutions to solve Ghana’s problems – Jospong Group Chairman
11 hours -
Benonita Bismarck retires from Ghana Shippers’ Authority
11 hours -
Prof. Kwesi Yankah: The comic festival of running mates
11 hours -
Al-Mawasi: Gaza humanitarian zone not humane, evacuees say
12 hours -
Parliament begins consideration of Anti-LGBT bill
12 hours -
London set to host The Best FIFA Football Awards on January 15, 2024
12 hours -
Putin to stand for fifth term as Russian president
12 hours -
Spokesperson for “The New Force” remanded
12 hours -
Beyond the Bowl: Ghana’s poultry demand vs local production
12 hours -
The Gods Are Not to Blame: Play gets rave reviews
12 hours -
Ghanaian pastors need to prioritise music in churches, take singers to international events – Nii Noi
12 hours -
Expand consultation on moves to restrict importation of some items – Unilever MD
12 hours