Total number of collateral registrations recorded in quarter two 2024 was 80,873, the Bank of Ghana has disclosed in its Collateral Registry Quarterly Brief.

This is compared to 50,695 registrations in the same quarter of 2023, representing 59.5% 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 69,328 registrations in the second quarter of 2024, indicating an increase of 74.2 percent from 39,796 registrations recorded in the second quarter of 2023.

Registration of collateral by Rural and Community Banks (RCBs) increased by 28.7 % from 6,019 registrations in quarter 2, 2023 to 7,747 in quarter 2, 2024.

Conversely, registrations by banks declined by 43.4% from 2,534 in the second quarter of 2023 to 1,433 in quarter 2, 2024.

Across the various lender types, Leasing Companies recorded only 4 registrations, the lowest during the period under review.

Searches conducted inched up by 10.1%

The total number of searches conducted at the Collateral Registry in quarter 2, 2024 inched up by 10.1% (year-on-year) from 14,184 in quarter 2 2023 to 15,617 in quarter 2, 2024.

Savings & Loans Companies accounted for 74.1% of the total number of searches conducted during the review period, followed by RCBs with 17.6% and banks with 4.6%.

Microfinance Institutions and Micro Credit Companies conducted the least number of searches with respective percentage shares of 0.8% and 0.1% in quarter 2, 2024.

The other lending institutions and the general public accounted for the remaining 2.7% of the total number of searches conducted during the second quarter of:2024.