NPL

The banking industry’s Non-Performing Loans (NPLs) ratio surged to 24.1% in June 2024, up from 18.7 percent in June 2023. According to the Bank of Ghana, despite improvements in the banking sector’s performance, elevated credit risk poses a threat to the sector’s recovery process. However, it believes, the consistent rebound in profits, adherence to recapitalisation plans, and enforcement of strict credit underwriting standards will however help ensure that banks remain on the path to full recovery and resilience. It stated in its Monetary Policy release that the banking sector performance in the first half of the year points to continued…