Non-Performing Loans drop from 19 to 17% – BoG

Nashiru Bog87Non-performing loans are set to reduce further downwards

The Central Bank is optimistic non-performing loans will witness some significant decline in the next few months.

Latest figure from the Bank reveals non-performing loans have reduced marginally from 19 to 17 percent as at November last year.

The Governor of the Bank of Ghana has attributed the development to the restructuring energy sector debt. The debt nearly led to the collapse of some 11 banks in the country.

Addressing the Monetary Policy Committee, Dr Nashiru Issahaku, said the NPL is set to reduce further downwards.

Meanwhile, the Central Bank has revealed it does not intend placing a limit on the number of banks in the country. There are currently 34 licensed banks in Ghana, raising fears some may have to merge due to the high minimum capital requirement.