Ernest Addison, Governor, Bank of Ghana
The Bank of Ghana’s Collateral Registry Quarterly Report has shown that the value of secured loans for which collateral was registered by banks and SDIs was GH¢5.26 billion in the first quarter of 2023.
This is relative to the GH¢6.5 billion recorded in the first quarter of 2022 indicating a year-on-year decline of 19.23 percent.
Secured loans are loans that are taken against secured assets such as a home or a landed property.
Therefore, according to the first quarter report by the Bank of Ghana, banks accounted for GH¢4.3 billion of total secured loans.
This represented a 25.1 percent decrease from the GH¢5.8 billion recorded in Q1 of 2022 and a share of 82.4 percent out of the total secured loans.
On the other hand, the SDIs recorded a total amount of GH¢924.7 million secured loans representing a share of 17.6 percent and an increase of 29.8 percent from the GH¢ 712.6 million recorded for the same period in 2022.
Also, a total of 79,364 assets were registered as collateral by Banks and Specialised Deposit-Taking Institutions in the first quarter of 2023, an increase from the 76,142 assets registered in the first quarter of 2022.
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