The value of loans granted by financial institutions fell by 54.9 % in the last quarter of 2023. The total amount of secured loans registered by banks and
Total value of secured loans dips by 54 5% modernghana.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from modernghana.com Daily Mail and Mail on Sunday newspapers.
A breakdown of the registrations across the various categories of lenders showed that Savings and Loans Companies (S&Ls) dominated with 50,007 registrations in the 4th quarter of 2023, indicating an increase of 25.6% from 39,801 registrations recorded in the 4th quarter of 2022.
According to the 4th Quarter Collateral Registry Report, banks accounted for GH¢4.5 billion of total secured loans in quarter 4 of 2023, indicating a decline of 63.0% from the GH¢12.3 billion recorded in Q4 2022.
The Nigerian Incentive-based Risk Sharing System for Agricultural Lending (NIRSAL) Plc and Polaris Bank have provided a N1 billion working capital facility