The total value of secured loans granted and registered by banks and Specialised Deposit-Taking Institutions (SDIs) in the 4th quarter of 2023 was GH¢5.9 billion.
This is compared with GH¢13.2 billion in quarter 4, 2022, indicating a decrease of 54.9% on year-on-year terms.
According to the 4th Quarter Collateral Registry Report, banks accounted for GH¢4.5 billion of total secured loans in quarter 4 of 2023, indicating a decline of 63.0% from the GH¢12.3 billion recorded in Q4 2022.
This suggests a general slowdown in credit growth in 2023, reflecting portfolio reallocation by banks.
On the other hand, the SDIs recorded a total of GH¢1.4 billion secured loans in Q4 2023, an increase of 53.0% from the GH¢918.7 million recorded for the same period in 2022.
Distribution of secured loans
Banks registered the largest share of the total value of secured loans in quarter 4 2023, with 76.3%, relative to the share of 93.0% in Q4 2022.
The share of secured loans by Savings and Loans Companies increased to 13.3% in Q4 2023 from 4.2% recorded in Q4 2022.
This was followed by the Rural and Community Bank with a percentage share of 6.9% from 1.9% in Q42022.
The share of secured loans by Microfinance Companies also increased to 1.7% in Q4 2023 from 0.3% in Q4 2022.
Similarly, the share of the total value of secured loans by Finance Houses increased marginally from 0.1% in Q4 2022 to 0.5% in Q4 2023
Latest Stories
-
Tamale nurse who poured boiling water on husband jailed 6 years
21 mins -
Teacher unions call for total overhaul of SSNIT’s management to avert possible collapse of the scheme
27 mins -
Ejisu: Government officials engaging in vote-buying in Bonwire – Kwabena Aduomi’s aide alleges
30 mins -
Europe Presbytery of PCG donates clinic to Nsaba PRESEC
1 hour -
Korle Bu clarifies reports on cancellation of surgeries
1 hour -
Let’s use film for public education – Ken Fiati
1 hour -
Private schools threaten to boycott BECE, WASSCE over exorbitant charges by WAEC
1 hour -
Enyonam Manye appointed ambassador for CASTNET International Chamber of Commerce; Named among top agric influencers in Africa
2 hours -
The Myth of The Sword of Damocles and Speaker Alban Bagbin’s Pandora Box
2 hours -
2024 polls: Let’s continue to unite in peace – Bawumia to politicians
2 hours -
Patronise local movies to push industry growth – Fella Makafui to public
2 hours -
King Charles visits cancer centre as public engagements resume
2 hours -
GPL: Bashir Hayford delays game against Bechem after sitting in the middle of the pitch
2 hours -
Courage Alormasor: FDA deserves praise for clamp down on unregistered diapers
2 hours -
ISSER Director promotes global collaboration for financial inclusion in Asia
2 hours