Total value of secured loans granted by banks, SDIs hits GH¢5.6b in Q3, 2024

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The total value of secured loans granted by banks and Specialised Deposit-Taking Institutions (SDIs) in the third quarter of 2024 was GH¢5.6 billion.

This is compared to the GH¢5.5 billion recorded in the third quarter of 2023, indicating a 2.8% increase on a year-on-year basis.

According to the Quarter 3 Collateral Registry Brief, banks accounted for GH¢3.5 billion of the total value of secured loans in Q3 2024, representing a decrease of 18.7% from GH¢4.3 billion in Q3 2023. In contrast, SDIs recorded a total value of GH¢2.1 billion in secured loans in Q3 2024, reflecting a 75.0% increase from GH¢1.2 billion recorded for the same period in 2023.

Banks Registered the Largest Share of Secured Loans

Banks registered the largest share of the total value of secured loans in Q3 2024, with 62.3%, compared to 78.8% in Q3 2023.

Similarly, the share of secured loans by Savings and Loans Companies increased to 23.4% in Q3 2024 from 12.7% in Q3 2023.

This was followed by Rural Community Banks (RCBs) with a share of 10.2% in Q3 2024, up from 5.35% in Q3 2023.

Additionally, the share of secured loans by Microfinance Institutions increased to 2.2% in Q3 2024 from 1.7% in Q3 2023.

The share of the total value of secured loans by Finance Houses decreased marginally from 0.5% in Q3 2023 to 0.3% in Q3 2024.

The cumulative share of secured loans from the remaining lending institutions increased to 1.6% from 1.0% during the same comparative period in 2023.

 

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