Ghana Association of Banks Archives

29 Aug

Banking Industry Bounces Back Strongly In 2023 – GAB Research

wontumionlineBusinessGhana Association of Banks

Prudential financial data released by most of the universal banks in the country during the first quarter (Q1) of 2023 affirmed a strong, robust and scintillating performance of the industry, in spite of the challenges during the last quarter (Q4) of the preceding year which were occasioned largely by government’s debt restructuring programme – specifically the domestic debt exchange programme (DDEP). The industry’s balance sheet during Q1 of 2023 depicted an impressive performance compared to Q4 of 2022. This fairly reflected a robust growth in total assets, which were integrally funded by sustained growth in deposits and increased capital levels.…

30 May

GAB Urges Comprehensive Plan To Address Loopholes In Credit Culture

wontumionlineBusinessGhana Association of Banks, John Awuah

Chief Executive Officer of the Ghana Association of Banks (GAB), John Awuah, has said there is a pressing need for collaborative efforts to aggressively address challenges facing the country’s credit environment. Speaking during a webinar on sustaining confidence in the financial sector, Mr. Awauh expressed concern over the seemingly low loan-to-deposit and loan-to-credit ratios in the industry – as well as the protracted judicial system, which he said significantly hampers loan recovery and allows defaulting customers to exploit the courts; putting banks in a vulnerable position. “Looking at the judicial system, it takes on average three to five years for…

12 May

GAB Moots Multi-Stakeholder Financial Literacy Fund

wontumionlineBusinessGhana Association of Banks

The Chief Executive Officer (CEO)-Ghana Association of Banks (GAB), John Awuah, has proposed the creation of a multi-stakeholder fund to deepen financial literacy among customers. He emphasised the importance of all players in the financial sector working together, as customers are often multi-banked and multi-platformed – which can lead to confusion if different entities provide varying levels of education. “Given that we are all focused on the same customers and that customer is multi-banked, multi-platformed, and it is not telcos doing theirs, fintechs doing theirs and banks doing that; how do we work together? It could be all players coming…

20 Jan

GSE Grants Listed Banks Extension For Filing 2022 Audited Financial Statements

wontumionlineBusinessGhana Association of Banks, GSE, Listed banks

The Ghana Stock Exchange has approved a request by the Ghana Association of Banks on behalf of the listed Banks for the filing of 2022 audited Financial Statements to be extended by one month to April 30, 2023. This will enable the eight banks work effectively with their external auditors to achieve the audit objectives. The banks are Access Bank Ghana, ADB, CalBank, Ecobank Ghana, GCB Bank, Royal Bank Ghana, Standard Chartered Bank Ghana and Societe Generale. The Ghana Association of Bankers has indicated that their discussions on the Government of Ghana Debt Exchange programme currently ongoing, has affected the…