17 August 2016 at 04:38According 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.___5387026___https:______static.pulse.com.gh___webservice___escenic___binary___5387026___2016___8___17___6___cedi+notes
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.
A coalition of car and spare parts dealers, clearing agents and artisans have called off a planned demonstration against the ban on the importation of accident cars.
The <a href="https://www.pulse.com.gh/news/politics/asepa-files-criminal-complaint-against-hawa-koomson/lxzgdf2">Alliance for Social Equity and Public Accountability</a> (ASEPA) has described as false claims by the government that more than 96 percent of depositors who had their monies locked-up from the banking sector clean-up been paid in full.
Vice-President Dr. Mahamudu Bawumia has said about 15 million Ghanaians now have bank accounts following the implementation of <a href="https://www.pulse.com.gh/news/local/offertory-and-tithe-to-be-paid-through-mobile-money-as-churches-introduce-e-payments/fdz0mhf">mobile money payment</a> interoperability.
“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.”
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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.
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