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.

  • Published: , Refreshed:
Governor, Bank of Ghana Dr. Henry Kofi Wampah play

Governor, Bank of Ghana

Dr. Henry Kofi Wampah

24/7 Live - Subscribe to the Pulse Newsletter!

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.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 $179m KelniGVG Deal GVGKelni registered to import cement, chamber pot,...bullet
2 $89m Kelni GVG Deal Here's the full contract between Ghana And Kelni GVGbullet
3 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions...bullet
4 Nana Appiah Mensah Menzgold to open a new branch in Spainbullet
5 Nana Appiah Mensah Menzgold boss dares BoG to prove deposit...bullet
6 NaBCo Here's what you need to apply for the Nation Builders Corpsbullet
7 Joseph Siaw Agyepong Preach wealth and possession to your...bullet
8 Telecom Sector Opposition MP behind Kelni GVG- reportbullet
9 Ghana Ports and Harbours Authority GPHA staff demands...bullet
10 Menzgold Ghana Investment company closes down its Gold...bullet

Top Videos

1 Forbes 2018 Africa's billionaires rich listbullet
2 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
3 Money Alert Meet Africa's richest womanbullet
4 Plane Crash Starbow suspends operations following plane crashbullet
5 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
6 Support Finance minister buys Kantanka carbullet
7 New Phones Nokia MWC 2018 Event in 5 minutesbullet
8 New Discovery Ghana discovers new mineral, lithium in...bullet
9 Bozoma Saint John 10 quotes from Uber top official,...bullet
10 Entrepreneurship Failure- How To Deal With It |...bullet

Business