{"id":709266,"date":"2019-09-24T14:59:36","date_gmt":"2019-09-24T14:59:36","guid":{"rendered":"https:\/\/ghana-mma.com\/2019\/09\/24\/private-sector-credit-growth-slows\/"},"modified":"2019-09-24T14:59:36","modified_gmt":"2019-09-24T14:59:36","slug":"private-sector-credit-growth-slows","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/09\/24\/private-sector-credit-growth-slows\/","title":{"rendered":"Private Sector Credit Growth Slows"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>Finance Minister, Ken Ofori-Atta<\/strong><\/p>\n<p>PRIVATE SECTOR credit growth has moderated slightly after peaking at 22.1 per cent in March 2019 as credit conditions tightened marginally.<\/p>\n<p>According to the latest report by the Bank of Ghana, annual growth in private sector credit was 13.4 per cent in August 2019, compared with 15.8 per cent growth in the same period of 2018.<\/p>\n<p>\u201cIn real terms private sector credit expanded by 5.2 per cent. The recent credit conditions survey indicated some tightening of credit stance on loans to enterprises and households despite increased demand for loans as banks continued to improve their credit risk management systems,\u201d\u00a0 the central bank Governor said.<\/p>\n<p><strong>Money market rates <\/strong><\/p>\n<p>Touching on money market rates, he said these had broadly remained unchanged for both short-dated and long-dated instruments since the last MPC meeting, adding that the 91-day Treasury bill rate had remained steady at 14.7 per cent since July 2019 from 13.3 per cent a year ago. Similarly, the 182-day instrument is at 15.1 per cent from 14.9 per cent over the same period a year ago.<\/p>\n<p>He said rates on the secondary bond market had eased marginally with yields on the 7-6 year, 10-year, and 15-year bonds trending down to 19.26, 19.57 and 19.71 per cent in August 2019, relative to 19.64, 19.75 and 20.03 per cent in June.<\/p>\n<p>\u201cThe weighted average interbank lending rate has remained at 15.2 per cent since March 2019, having declined from 16.2 per cent in August 2018. Lending rates of banks averaged 23.9 per cent in August 2019.\u201d<\/p>\n<p><strong>Banking sector status<\/strong><\/p>\n<p>At the start of the reforms in August 2017, he said total assets were GH\u00a289.1 billion for a sector that had [36] banks, and two years after the reform process started, total assets have increased to GH\u00a2115.2 billion at end August 2019 even with 23 banks.<\/p>\n<p>In the same direction, he said \u00a0total deposits had improved from GH\u00a255.7 billion to GH\u00a276.0 billion over the same comparative period, reflecting a stronger deposit base owing to more trust and confidence in the banking sector with fewer but stronger banks.<\/p>\n<p>\u201cBanks are beginning to refocus on their core mandate of financial intermediation based on the strong capital base after recapitalisation. The industry\u2019s Capital Adequacy Ratio (CAR), computed in accordance with the new Capital Requirement Directive (CRD) under the Basel II\/III capital framework, stands at 19.8 per cent in August 2019, well above the 13 per cent minimum regulatory benchmark,\u201d he disclosed.<\/p>\n<p><strong>Banks\u2019 asset quality<\/strong><\/p>\n<p>\u201cAsset quality has continued to improve with a decline in the Non-Performing Loans (NPL) ratio from 21.3 per cent in August 2018 to 17.8 per cent in August 2019. Excluding loans in the \u2018loss\u2019 category, however, 7 the NPL ratio has declined from 11.7 per cent to 8.9 per cent over the same comparative period.<\/p>\n<p>\u201cThe NPL ratio is trending in the right direction and is expected to be sustained by continued implementation of the NPL write-off policy, intensified loan recovery efforts, and stronger credit risk management practices.\u201d<\/p>\n<p><strong>BY Melvin Tarlue<\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Finance Minister, Ken Ofori-Atta PRIVATE SECTOR credit growth has moderated slightly after peaking at 22.1 per cent in March 2019 as credit conditions tightened marginally. According to the latest report by the Bank of Ghana, annual growth in private sector credit was 13.4 per cent in August 2019, compared with 15.8 per cent growth in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":703517,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-709266","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Private Sector Credit Growth Slows - 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\/09\/24\/private-sector-credit-growth-slows\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Private Sector Credit Growth Slows - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Finance Minister, Ken Ofori-Atta PRIVATE SECTOR credit growth has moderated slightly after peaking at 22.1 per cent in March 2019 as credit conditions tightened marginally. According to the latest report by the Bank of Ghana, annual growth in private sector credit was 13.4 per cent in August 2019, compared with 15.8 per cent growth in [&hellip;]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/ken-ofori-atta.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/09\\\/24\\\/private-sector-credit-growth-slows\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/09\\\/24\\\/private-sector-credit-growth-slows\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\"},\"headline\":\"Private Sector Credit Growth Slows\",\"datePublished\":\"2019-09-24T14:59:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/09\\\/24\\\/private-sector-credit-growth-slows\\\/\"},\"wordCount\":469,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/09\\\/24\\\/private-sector-credit-growth-slows\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/ken-ofori-atta.jpg\",\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/09\\\/24\\\/private-sector-credit-growth-slows\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/09\\\/24\\\/private-sector-credit-growth-slows\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/09\\\/24\\\/private-sector-credit-growth-slows\\\/\",\"name\":\"Private Sector Credit Growth Slows - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/09\\\/24\\\/private-sector-credit-growth-slows\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/09\\\/24\\\/private-sector-credit-growth-slows\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/ken-ofori-atta.jpg\",\"datePublished\":\"2019-09-24T14:59:36+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/09\\\/24\\\/private-sector-credit-growth-slows\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/09\\\/24\\\/private-sector-credit-growth-slows\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/ken-ofori-atta.jpg\",\"contentUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/ken-ofori-atta.jpg\",\"width\":700,\"height\":448},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\",\"name\":\"Ghana News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"caption\":\"Ghana News\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Private Sector Credit Growth Slows - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2019\/09\/24\/private-sector-credit-growth-slows\/","twitter_card":"summary_large_image","twitter_title":"Private Sector Credit Growth Slows - Ghanamma.com","twitter_description":"Finance Minister, Ken Ofori-Atta PRIVATE SECTOR credit growth has moderated slightly after peaking at 22.1 per cent in March 2019 as credit conditions tightened marginally. According to the latest report by the Bank of Ghana, annual growth in private sector credit was 13.4 per cent in August 2019, compared with 15.8 per cent growth in [&hellip;]","twitter_image":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/ken-ofori-atta.jpg","twitter_creator":"@ghanamma","twitter_site":"@ghanamma","twitter_misc":{"Written by":"Ghana News","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2019\/09\/24\/private-sector-credit-growth-slows\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2019\/09\/24\/private-sector-credit-growth-slows\/"},"author":{"name":"Ghana News","@id":"https:\/\/www.ghanamma.com\/2019\/#\/schema\/person\/53d06a757a4242f113d200e3c290c036"},"headline":"Private Sector Credit Growth Slows","datePublished":"2019-09-24T14:59:36+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2019\/09\/24\/private-sector-credit-growth-slows\/"},"wordCount":469,"commentCount":0,"image":{"@id":"https:\/\/www.ghanamma.com\/2019\/09\/24\/private-sector-credit-growth-slows\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/ken-ofori-atta.jpg","articleSection":["Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2019\/09\/24\/private-sector-credit-growth-slows\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2019\/09\/24\/private-sector-credit-growth-slows\/","url":"https:\/\/www.ghanamma.com\/2019\/09\/24\/private-sector-credit-growth-slows\/","name":"Private Sector Credit Growth Slows - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2019\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2019\/09\/24\/private-sector-credit-growth-slows\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2019\/09\/24\/private-sector-credit-growth-slows\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/ken-ofori-atta.jpg","datePublished":"2019-09-24T14:59:36+00:00","author":{"@id":"https:\/\/www.ghanamma.com\/2019\/#\/schema\/person\/53d06a757a4242f113d200e3c290c036"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2019\/09\/24\/private-sector-credit-growth-slows\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2019\/09\/24\/private-sector-credit-growth-slows\/#primaryimage","url":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/ken-ofori-atta.jpg","contentUrl":"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/08\/ken-ofori-atta.jpg","width":700,"height":448},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2019\/#website","url":"https:\/\/www.ghanamma.com\/2019\/","name":"Ghanamma.com","description":"News In Ghana - Latest Ghana News Headlines","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2019\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.ghanamma.com\/2019\/#\/schema\/person\/53d06a757a4242f113d200e3c290c036","name":"Ghana News","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","caption":"Ghana News"}}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/posts\/709266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/comments?post=709266"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/posts\/709266\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/media\/703517"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/media?parent=709266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/categories?post=709266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2019\/wp-json\/wp\/v2\/tags?post=709266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}