{"id":74542,"date":"2024-05-31T15:20:17","date_gmt":"2024-05-31T15:20:17","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/uncategorized\/banks-non-performing-loans-increase-to-25-7-in-april-2024"},"modified":"2024-05-31T15:34:03","modified_gmt":"2024-05-31T15:34:03","slug":"banks-non-performing-loans-increase-to-25-7-in-april-2024","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/banks-non-performing-loans-increase-to-25-7-in-april-2024","title":{"rendered":"Banks\u2019 non-performing loans increase to 25.7% in April 2024"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>Governor of the Bank of Ghana, Dr Ernest Addison has said that Banks\u2019 bad debt or non-performing loans, loans that are in default due to the fact that the borrower has not made the scheduled payments for a specified period, increased to 25.7 percent in April 2024 from 18 percent in April 2023.<\/b><\/p>\n

He attributed this to the \u2018lagged\u2019 effect of COVID-19 pandemic and the economic crisis of 2022 which led to the downgrading of several large exposures of banks.<\/p>\n

The sector is expected to be strengthened as banks recapitalise and enforce stringent credit underwriting standards, he assured.<\/p>\n

Dr Addison said these during the 118th Monetary Policy Committee (MPC) press conference held in Accra on Monday May 27.<\/p>\n

At the press conference, he announced that the banking sector indicators point to a recovery from the impact of the domestic debt exchange programme.<\/p>\n

He said total assets increased by 28.8 percent to GH\u00a2306.8 billion at the end of April 2024 driven by domestic currency deposits and other funding sources.<\/p>\n

Banks also reported higher profits for the first four months of 2024, relative to the same comparative period in 2023, Dr Addison. He further stated that key financial soundness indicators generally improved during the review period (First four months of 2024).<\/p>\n

Bank of Ghana directs Socie\u0301te\u0301 Ge\u0301ne\u0301rale to submit full list of persons interested in acquiring their shares<\/p>\n

The capital adequacy ratio adjusted for reliefs increased to 15.5 percent in April 2024 from 14.7 percent in April 2023, reflecting the rebound in profits. Capital adequacy ratio without relief for the banking system was 11.5 percent at the end of April 2024 compared to 7.6 percent in April 2023.<\/p>\n

Liquidity and efficiency indicators also improved in April 2024, compared to the same period last year.<\/p>\n

The non-performing loan ratio, on the other hand, increased to 25.7 percent in April 2024 from 18.0 percent in April 2023, due to the lagged effect of COVID-19 pandemic and the economic crisis of 2022 which has led to the downgrading of several large exposures of banks. The sector is expected to be strengthened as banks recapitalise and enforce stringent credit underwriting standards.<\/p>\n

\u201cOn the international commodities market, prices of Ghana\u2019s major exports (cocoa, gold,<\/p>\n

and crude oil), recorded gains in April 2024. Cocoa prices continued to increase, reaching<\/p>\n

US$10,116.9 per tonne in April 2024, from US$4,235.60 per tonnes in December 2023,<\/p>\n

representing a year-to-date gain of 138.9 percent.<\/p>\n

\u201cCrude oil prices increased by 15.2 percent on a year-to-date basis to US$89.00 per barrel in April, compared to US$77.26 per barrel in December 2023. Gold prices also increased by 14.7 percent at the beginning of the year to US$2,334.2 per fine ounce,\u201d he said.<\/p>\n

He added \u201cThe balance of trade recorded a lower surplus of US$744.3 million for the first four months of the year, compared to a surplus of US$1.39 billion in the corresponding period of last year. Total exports increased by 4.9 percent to US$5.83 billion driven mainly by significant growth in gold exports and a modest increase in crude oil exports. Earnings from gold exports increased by 37 percent to US$2.97 billion, due to higher volumes of exports from small-scale gold production.<\/p>\n

BoG directs all foreign exchange bureaus advertising rates outside their premises & on social media to stop<\/p>\n

\u201cThe value of crude oil exports, in comparison, increased by 9.4 percent to US$1.27 billion, on the back of both volume and price increases. Exports of cocoa, both beans and products, dropped by 49.0 percent to US$599.3 million. Other exports, including non-traditional exports, also decreased by 6.0 percent to US$981.8 million.<\/p>\n

\u201cTotal imports increased by 22.2 percent to US$5.08 billion, driven mainly by non-oil imports which went up by 31.2 percent to US$3.53 billion, while oil imports increased by 5.6 percent to US$1.55 billion.\u201d<\/p>\n

Source: 3News<\/b><\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. Governor of the Bank of Ghana, Dr Ernest Addison has said that Banks\u2019 bad debt or non-performing loans, loans that are in default due to the fact that the borrower has not made the scheduled payments for a specified period, increased to 25.7 percent in April 2024 from 18 percent in April […]<\/p>\n","protected":false},"author":84,"featured_media":74541,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6],"tags":[5092,5096,429],"class_list":["post-74542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nBanks\u2019 non-performing loans increase to 25.7% in April 2024 - Ghana<\/title>\n<meta name=\"description\" content=\"Governor of the Bank of Ghana, Dr Ernest Addison has said that Banks\u2019 bad debt or non-performing loans, loans that ar ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/banks-non-performing-loans-increase-to-25-7-in-april-2024\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banks\u2019 non-performing loans increase to 25.7% in April 2024\" \/>\n<meta property=\"og:description\" content=\"Governor of the Bank of Ghana, Dr Ernest Addison has said that Banks\u2019 bad debt or non-performing loans, loans that ar ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/banks-non-performing-loans-increase-to-25-7-in-april-2024\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-31T15:20:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-31T15:34:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/05\/sm_1717156967.789926.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/banks-non-performing-loans-increase-to-25-7-in-april-2024#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/banks-non-performing-loans-increase-to-25-7-in-april-2024\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Banks\u2019 non-performing loans increase to 25.7% in April 2024\",\"datePublished\":\"2024-05-31T15:20:17+00:00\",\"dateModified\":\"2024-05-31T15:34:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/banks-non-performing-loans-increase-to-25-7-in-april-2024\"},\"wordCount\":613,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/banks-non-performing-loans-increase-to-25-7-in-april-2024#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/05\/sm_1717156967.789926.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"files\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/banks-non-performing-loans-increase-to-25-7-in-april-2024#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/banks-non-performing-loans-increase-to-25-7-in-april-2024\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/banks-non-performing-loans-increase-to-25-7-in-april-2024\",\"name\":\"Banks\u2019 non-performing loans increase to 25.7% in April 2024 - 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