Banking in Ghana BoG report indicates drop of 960M in bank deposits

The fall means 960 million was lost in the first month of 2016.

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Governor, Bank of Ghana Dr. Henry Kofi Wampah play

Governor, Bank of Ghana

Dr. Henry Kofi Wampah

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Total bank deposits fell to 40.3 billion in January 2016 from 41.26 in December 2015, according latest Summary of Economic and Financial data by the Bank of Ghana (BoG).

The fall means 960 million was lost in the first month of 2016.

Total assets fell marginally from 63.4 billion in December 2015 to 63.0 billion in January 2016.

According to the report, the domestic assets component of total assets increased by 24.1 percent to GHC57.98 billion at the end of December 2015 compared with 39.9 percent growth recorded for the same period in 2014.

Growth in foreign assets dropped from 69.4 percent in December 2014 to 12.5 percent growth in December 2015, the report said.

Current and savings accounts grew by 31 percent at the end of January 2016: 10.3 percent higher than December 2015.

Fixed deposits growth fell by 32.6 percent in January 2016  from 34.8 percent in December 2015.

Growth of currency outside banks also declined from 23.3 in December 2015 to 20.5 percent in January 2016.

However, liquidity in the banking industry grew by 29.6 percent in January, compared to 28.7 percent growth recorded in December 2015.

The banking industry’s capital adequacy ratio also stood at 17.9 percent in January 2015 as against 17.8 percent in December 2015.

While non-performing loans declined from 14.7 percent to 14.6 percent.

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