The total number of collateral registrations recorded for quarter 3, 2024 was 95,340, the Bank of Ghana has revealed in its Quarterly Collateral Registry Brief.

This is compared to 56,314 registrations in the same quarter of 2023, representing a 69.3% year-on-year growth.

A breakdown of the registrations across the various categories of lenders showed that Savings and Loans Companies (S&Ls) dominated with 82,737 registrations in Q3 2024, an increase of 81.4% from the 45,601 registrations recorded in Q3 2023.

Registration of collateral by Rural and Community Banks (RCBs) also increased by 31.2% from 6,278 in Q32023 to 8,235 in Q3 2024.

Conversely, registrations by banks declined by 12.7% from 2,019 in Q3 2023 to 1,763 in Q3 2024. Leasing Companies recorded only 7 registrations, the lowest during the period under review and a decrease from 11 registrations recorded in Q3 2023.

Searches inched up to 17,727 in Q3, 2024

Meanwhile, the total number of searches conducted at the Collateral Registry in Q3 2024 inched up by 16.6% (year-on-year) to 17,727 in Q3 2024 from 15,204 in Q3 2023.

Savings & Loans Companies conducted 13,049 searches, accounting for 73.6% of the total number of searches conducted during the review period.

This was followed by RCBs with 3,229 searches, representing 18.2% and banks with 885 searches, signifying 5.0% of all searches conducted at the Registry in Q3 2024.

The Microfinance and Micro Credit Institutions conducted the least number of searches with respective percentage shares of 1.2% and 0.1% in Q3:2024.