Ghana 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.…

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…