Pulse.com.gh logo
Go


Ghana's Economy Fund managers cautioned against banking stocks

According to the Chairman of the IFSL capital limited Mr. Samuel Kwadjo Agyapong Appenteng, returns on banking stocks keeps dwindling, adding that debtors are not honouring their debt obligations which makes bank stocks risky.

  • Published: , Refreshed:

Owing to the increasing levels of non-performing loans in the banking sector, fund managers have been cautioned against purchasing banking stocks.

According to the Chairman of the IFS capital management limited, Mr. Samuel Kwadjo Agyapong Appenteng, returns on banking stocks keeps dwindling, adding that debtors are not honouring their debt obligations which makes banking stocks risky.

READ MORE

“You know historically the banks were quite a juicy area,” he told Citi FM. “But the way the economy has performed over the last couple of years or so, you’d find that banks are having a huge NPLs [Non Performing Loans] which means that their performances is beginning to have challenges.”

He continued: “Debtors are not really honouring their obligations so it is an area we find risky at this point.”

He was however optimistic the situation will improve with time.

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 Breaking Otabil finally breaks silence on banking controversiesbullet
2 Investment banks in Ghana Top 5 investment banks in Ghana and why you...bullet
3 Banking Crises Sahel Sahara and Omni Bank become latest to mergebullet
4 Nana Appiah Mensah Menzgold boss apologises to BoG after Twitter rantbullet
5 Increment Fuel prices to go up again – IESbullet
6 Incompetence Otabil wasn't qualified to be Capital Bank Board...bullet
7 Bank Collapse Capital Bank Board misused GHC 610 million...bullet
8 Banking In Ghana Stranded customers of First Allied...bullet
9 Capital Bank Collapse Here are the roles of a...bullet
10 Collapsed Banks Here are the auditing firms for the 7...bullet

Top Videos

1 Former Capital Bank staff grills pork for survivalbullet
2 Forbes 2018 Africa's billionaires rich listbullet
3 Money Alert Meet Africa's richest womanbullet
4 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
5 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
6 Support Finance minister buys Kantanka carbullet
7 Plane Crash Starbow suspends operations following plane crashbullet
8 New Phones Nokia MWC 2018 Event in 5 minutesbullet
9 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
10 Video We are determined to move Ghana beyond aid - Bawumiabullet

Business