Banks Forgave Customers GH¢2.086bn Bad Debt – BoG
A total of GHS2.086 billion was written off as bad debt by banks operating in Ghana.
This was disclosed by the central bank’s Domestic Money Bank’s Income Statement.
The total bad debt stock for 2021 was 4.7 percent less than that of 2020, which was GHS2.183 billion.
It comprised loan losses, depreciation, and other factors.
The NPL ratio, for instance, jumped from 14.8% in December 2020 to 15.2% in December 2021, partly due to the COVID-19 pandemic.
Bank-specific challenges with loan recovery also played a role.
Source: classfmonline.com