The total value of secured loans granted by banks and Specialised Deposit-Taking Institutions (SDIs) in Quarter 4 (Q4) 2024 was GH¢8.2 billion.
This is relative to the GH¢5.9 billion recorded in Q4 2023, indicating an increase of 38.9% year-on-year.
Banks accounted for GH¢5.7 billion of the total value of secured loans in Q4 2024, depicting an increase of 26.7% from GH¢4.5 billion recorded in Q4 2023.
On the other hand, the total value of secured loans recorded by SDIs in Q4 2024 amounted to GH¢2.5 billion, an increase of 78.6% from GH¢1.4 billion recorded for the same period in 2023.
Distribution of Secured Loans
Banks registered the largest share of the total value of secured loans in Q4 2024, with 69.5%, relative to 76.3% in Q4 2023.
The share of secured loans by Savings and Loans (S&Ls) increased to 17.4% in Q4 2024 from 13.3% in Q4 2023. This was followed by the Rural and Community Banks (RCBs), with a percentage share of 10.4% in Q4 2024, up from 6.9% in Q4 2023.
Similarly, the share of secured loans by Microfinance Institutions decreased marginally to 1.4% in Q4 2024 from 1.7% in Q4 2023.
The share of the total value of secured loans by Finance Houses decreased marginally to 0.3% from 0.5% in Q4 2023.
The cumulative share of secured loans from the remaining lending institutions decreased marginally to 1.0% in Q4 2024 from 1.2% during the same comparative period in 2023.
Source: Myjoyonline
