The total value of secured loans granted and registered by banks and SDIs in quarter 2, 2024 was GH¢10.8 billion, about 83.1% increase over that of 2023.

In 2023, the total value of secured loans was estimated at GH¢5.9 billion.

According to the Collateral Registry Banks accounted for GH¢9.1 billion of total secured loans in quarter 2 2024, depicting an increase of 85.7% from GH¢4.9 billion recorded in quarter 2, 2023.

On the other hand, the Specialized Deposit Taking Institutions (SDIs) recorded a total secured loans of GH¢1.7 billion in quarter 2 2024.

This is an increase of 75.1% from GH¢971.1 million recorded for the same period in 2023.

Banks registered largest share of total value of secured loans in quarter 2 2024

Meanwhile, banks registered the largest share of the total value of secured loans in quarter 2 2024, with 83.8%, relative to the share of 83.7% in quarter 2,2023.

The share of secured loans by S&Ls declined to 9.5% in the second quarter of 2024 from the share of 9.8% recorded in quarter 2 2023.

This was followed by the Rural and Community Banks (RCBs) with a percentage share of 5.2% in quarter 2, 2024 from 4.4% in quarter 2, 2023.

The share of secured loans by Microfinance Institutions declined marginally to 1.0% in quarter 2, 2024 from 1.1% in quarter 2, 2023.

The share of the total value of secured loans by Micro Credit Companies decreased marginally from 0.3% in quarter two 2023.