{"id":667068,"date":"2019-07-29T14:45:36","date_gmt":"2019-07-29T14:45:36","guid":{"rendered":"

Dr Ernest Addison<\/strong><\/p>\n\n\n\n

THE BANK of Ghana\n(BoG) last year recorded a loss of GH\u00a2793 million resulting from its\noperations, the bank\u2019s 2018 Annual Report, has shown.<\/p>\n\n\n\n

The figure\nrepresents a more than 50 per cent drop "},"modified":"2019-07-29T14:45:36","modified_gmt":"2019-07-29T14:45:36","slug":"balance-of-payments-record-671-52m-deficit","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/07\/29\/balance-of-payments-record-671-52m-deficit\/","title":{"rendered":"Balance Of Payments Record $671.52m Deficit"},"content":{"rendered":"

<\/p>\n

Dr Ernest Addison<\/strong><\/p>\n

THE BANK of Ghana
\n(BoG) last year recorded a loss of GH\u00a2793 million resulting from its
\noperations, the bank\u2019s 2018 Annual Report, has shown.<\/p>\n

The figure
\nrepresents a more than 50 per cent drop from the GH\u00a21.6 billion the bank made in
\n2017 when the troubles from the banking sector were at their peak.<\/p>\n

The central bank\u2019s
\nAnnual Report published on its website revealed that the bank succeeded in
\nreducing its cost of operations from GH\u00a24.4 billion in 2017 to about GH\u00a23.9
\nbillion in 2018.<\/p>\n

In terms of
\nincome, the bank generated GH\u00a23.1 billion in the year under review \u2013 a figure
\nwhich was an 11.4 per cent improvement of the amount realised in 2017.<\/p>\n

The more than 50
\nper cent drop in the losses recorded by the bank comes after the central bank
\nundertook a clean-up of the banking sector where a total of nine local banks \u2013
\nmostly insolvent, with some on BoG\u2019s life support, had their licenses revoked.<\/p>\n

In his foreword
\nfor the report, Dr. Ernest Addison, BoG Governor stated that the overall,
\nfinancial soundness, indicators of the banking industry has improved
\nsignificantly after the sector\u2019s clean up.<\/p>\n

He stated that there is an ongoing strengthening of the Bank\u2019s regulatory and supervisory framework which will further develop, strengthen, and modernise the financial sector to support the country\u2019s economic vision and transformational agenda of Ghana beyond Aid. <\/p>\n

– Citifmonline<\/em><\/strong><\/p>\n

The post Balance Of Payments Record $671.52m Deficit appeared first on .<\/p>\n","protected":false},"excerpt":{"rendered":"

Dr Ernest Addison THE BANK of Ghana (BoG) last year recorded a loss of GH\u00a2793 million resulting from its operations, the bank\u2019s 2018 Annual Report, has shown. The figure represents a more than 50 per cent drop from the GH\u00a21.6 billion the bank made in 2017 when the troubles from the banking sector were at […]<\/p>\n","protected":false},"author":1,"featured_media":667069,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-667068","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\nBalance Of Payments Record $671.52m Deficit - Ghanamma.com<\/title>\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.ghanamma.com\/2019\/07\/29\/balance-of-payments-record-671-52m-deficit\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Balance Of Payments Record $671.52m Deficit - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Dr Ernest Addison THE BANK of Ghana (BoG) last year recorded a loss of GH\u00a2793 million resulting from its operations, the bank\u2019s 2018 Annual Report, has shown. 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