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The average base rate of Ghana's banking industry drops to 25.7 per cent
According to the Bank of Ghana’s Annual Percentage and Average Interest report, Unibank remains the bank that offers the highest percentage on base rate.
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This represents a 3.4 percent change from the 26.6 percent recorded in September.
According to the Bank of Ghana’s Annual Percentage and Average Interest report, Unibank remains the bank that offers the highest percentage on base rate.
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Their interest stands at 35.7 percent. This is, however, a reduction from the previously recorded 36.8 percent it recorded in August.
Meanwhile, Bank of Baroda still offers the lowest base rate of 15.1 percent. It previously recorded 15 percent in September this year.
The base rate is the lowest rate at which a bank would lend to its customers.
Of the 31 banks that were surveyed by the Bank of Ghana, Unibank offers the highest base rate at 35.7 percent.
It is closely followed at the second position by Sovereign Bank whose base rate is at 33.7 percent base rate.
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The Royal Bank and Premium Bank occupy the third and fourth highest positions. Their base rates are 33.5 and 33 percent respectively. Omni Bank and National Investment Bank placed fifth with their base rates at 30.4 percent.
Meanwhile, Of the thirty-one banks surveyed, Bank of Baroda’s 15.1 percent is the least preceded by Standard Chartered Bank and Barclays Bank with base rates at 17.8 and 18.1 percent respectively.
The fourth and Fifth positions are occupied by Societe General and Stanbic Bank with base rates at 18.6 percent and 18.9 percent.
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