Audio By Carbonatix
The banking industry bounced back from its loss position in 2022 to record a profit in 2023, the Bank of Ghana has disclosed.
According to the Central Bank, this reflects sustained increases in net interest income and fees and commissions.
It pointed out that the industry’s balance sheet was generally strong, underscored by increased assets in December 2023, funded largely by deposits.
Key financial soundness indicators remained broadly positive with the Capital Adequacy Ratio (adjusted for reliefs) above the regulatory minimum, while liquidity and profitability ratios were higher in December 2023 compared to the same period last year.
The Non-Performing Loan ratio, however, increased in 2023, because of general repayment challenges on the part of borrowers, reflecting the impact of general macroeconomic challenges encountered in 2022.
But the latest stress tests indicate that the sector remains stable on the back of the ongoing recapitalisation process by shareholders alongside support from the Ghana Financial Stability Fund.
Latest Stories
-
Gender Ministry supports Harriet Amuzu in ongoing abuse case
12 minutes -
AG joins plaintiff to scrap OSP ?: We should be mindful of the mischief in this – Bobby Banson
19 minutes -
Samson Lardy Anyenini questions willingness of Attorneys-General to prosecute political colleagues
21 minutes -
It is only fair the OSP is heard in Supreme Court case – Bobby Banson
27 minutes -
Asiedu Nketia resumes Ashanti tour, second leg kicks off on Sunday
35 minutes -
NLA denies salary cut claims, threatens legal action over reports
39 minutes -
BoG Governor honoured for stabilising cedi, improve inflation
42 minutes -
Kyebi Easter Homecoming 2026: A resounding success!
1 hour -
Trade Minister applauds GUTA as a pillar of economic growth; Prez Mahama honoured
2 hours -
President’s brother’s takeover of Damang Mines is ‘untidy’ – Alhassan Tampuli
2 hours -
It’s not true that gov’t decided not to renew the lease for Gold Fields – Bobby Banson
2 hours -
Ghana to boost tomato production with 60-hectare irrigated farms and processing initiatives
2 hours -
E&P’s takeover process of Damang Mines was very clean – Inusah Fuseini
2 hours -
Damang takeover: There is not going to be any job loss; it is a lease change – Bobby Banson
3 hours -
Gold Fields didn’t stop mining at Damang mines; such claims are untrue – Bobby Banson
3 hours