Pulse.com.gh logo
Go


Bank of Ghana Report Commerce, Finance sectors get highest amount of total bank credit

 The three highest recipient sectors of credit, namely Commerce & Finance, Services, and Electricity, Gas & Water, accounted for 61.4 percent of credit allocation in September 2015 compared with 61.3 percent recorded in September 2014.

  • Published:
Banking Hall in Ghana play

Banking Hall in Ghana

The Commerce & Finance sector received the highest amount of credit from banks, accounting for 23.5 percent as at September 2015 compared with 25.2 percent in September 2014.

 The three highest recipient sectors of credit, namely Commerce & Finance, Services, and Electricity, Gas & Water, accounted for 61.4 percent of credit allocation in September 2015 compared with 61.3 percent recorded in September 2014.

                                                         Read More

 The share of credit allocation to other sectors including Manufacturing, Construction and Miscellaneous improved while Mining & Quarrying, Transportation, Storage & Communication, and Agriculture, Forest & Fishing declined during the review period.

 

Meanwhile, contrary to perception that banks prefer to lend to government more than private sector, the Bank of Ghana's Financial Stability Report  has revealed that banks'  loans to Government and public insititutions decreased from 5.9 percent in September 2014 to 5.3 percent in September 2015.

Credit to private enterprises however increased to 76.9 percent of gross loans in September 2015 from 75.7 percent recorded in September 2014. The share of 10 household loans in gross loans increased marginally to 15.5 percent in September 2015 from 15.3 percent in September 2014.

Credit to public enterprises accounted for 2.3 percent of gross loans and advances in September 2015, compared with 3 percent registered in September 2014

 

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 Number 12 Panic withdrawals hit savings & loans company following...bullet
2 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions public...bullet
3 Investment banks in Ghana Top 5 investment banks in Ghana and why...bullet
4 Donor Support World Bank injects $60m into Ghana’s energy, tourism...bullet
5 Salaries In 2018 Here are the dates public workers will be paid...bullet
6 Tax Policy Government not planning to increase VAT, MP allays...bullet
7 Education Top 5 private high schools in Ghana according to WAECbullet
8 Menzgold Ghana Investment company closes down its Gold...bullet
9 Economy of Ghana Gov’t to increase taxes in mid-year budgetbullet
10 Nana Appiah Mensah Zylofon boss to create one million...bullet

Top Videos

1 Money Alert Meet Africa's richest womanbullet
2 Support Finance minister buys Kantanka carbullet
3 Forbes 2018 Africa's billionaires rich listbullet
4 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
5 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
6 Plane Crash Starbow suspends operations following plane crashbullet
7 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
8 Tech 6 reasons you should buy an iPhone SE instead of any...bullet
9 Bozoma Saint John 10 quotes from Uber top official,...bullet

Business