John Awuah Archives - Wontumi Online

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…

DDEP: Banks Had To Take Some Very Difficult Decisions – Awuah

wontumionlineBusinessDDEP, John Awuah

Banks, following the domestic debt exchange programme, have recorded huge losses in the first quarter of the year. According to Chief Executive Officer of the Ghana Association of Banks, John Awuah, while the banks had anticipated such significant losses, they had taken a strategic position by agreeing to the DDEP. Describing the process of signing onto the programme as a very difficult decision for banks, he noted that should the banks have refused the economy would have tanked and the banks would have collapsed with it. “So it’s not child’s play. It’s been a very difficult decision. But the banks…

Banks Still Strong, Have Enough Liquidity Despite DDEP – Ghana Association Of Banks

wontumionlineBusinessDDEP, GAB, John Awuah

The Ghana Association of Banks (GAB) has stated that banks in the country are in good standing with their financial position despite losses incurred by the lenders due to the Domestic Debt Exchange Programme (DDEP). A recent assessment of financial statements of banks by Dr. Richmond Atuahene and K B Frimpong revealed that banks will lose additional ¢6 billion due to reduced coupon rate and the extension of the maturity period from five to 15 years. But speaking on the Super Morning Show today [April 27, 2023], the President of the GAB, John Awuah said the capital position of banks…