{"id":222098,"date":"2024-09-30T09:18:45","date_gmt":"2024-09-30T09:18:45","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/09\/30\/ghanas-banking-sectors-performance-continued-to-improve-addison\/"},"modified":"2024-09-30T09:18:45","modified_gmt":"2024-09-30T09:18:45","slug":"ghanas-banking-sectors-performance-continued-to-improve-addison","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/09\/30\/ghanas-banking-sectors-performance-continued-to-improve-addison\/","title":{"rendered":"Ghana\u2019s banking sector\u2019s performance continued to improve \u2013 Addison"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>The banking sector\u2019s performance continued to improve, with assets growing at 38.7 percent at end-August 2024, compared to 19.6 percent in August 2023, Governor of the Bank of Ghana (BoG) Dr Ernest Addison has said.<\/strong><\/p>\n<p>Both pre-tax and after-tax profits were higher in the first eight months of 2024 relative to the same period last year, he said.<\/p>\n<p>On solvency, he stated that the Capital Adequacy Ratio (CAR) of the industry stood at 10.3 percent in August 2024, higher than the 7.5 percent recorded in August 2023.<\/p>\n<p>With reliefs, CAR was 13.8 percent in August 2024, compared to 14.2 percent in August 2023.<\/p>\n<p>CAR is a measure of how much capital a bank has available, reported as a percentage of a bank\u2019s\u00a0<span tabindex=\"0\" role=\"tooltip\"><span class=\"c5aZPb\" tabindex=\"0\" role=\"button\" data-enable-toggle-animation=\"true\" data-extra-container-classes=\"ZLo7Eb\" data-hover-hide-delay=\"1000\" data-hover-open-delay=\"500\" data-send-open-event=\"true\" data-theme=\"0\" data-width=\"250\" data-ved=\"2ahUKEwilpa78p-qIAxWmT0EAHdQ-Kz4QmpgGegQIFxAD\"><span class=\"JPfdse\" data-bubble-link=\"\" data-segment-text=\"risk-weighted\">risk-weighted<\/span><\/span><\/span>\u00a0credit exposures.<\/p>\n<p>\u201cLiquidity and efficiency ratios also improved during the first eight months of the year, highlighting that broadly, key financial soundness indicators are improving in the banking sector and remaining positive,\u201d Dr Addison said during the 120th Monetary Policy Committee (MPC) press conference in Accra on Friday September 27.<\/p>\n<p>Despite these improvements, he noted that the Non-Performing Loans (NPL) ratio was 24.3 percent in August 2024, up from 20 percent in August 2023, reflecting increased defaults from large borrowers and highlighting that elevated credit risk remains the primary concern for the sector\u2019s outlook.<\/p>\n<p>On private sector credit, he indicated that it continued to grow during the review  period to 21.7 percent in August 2024, from 10.7 percent in August 2023.<\/p>\n<p>\u201cIn real terms, private sector credit recorded a growth of 1.1 percent, relative to a 21.0 percent contraction in 2023,\u201d he said.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The banking sector\u2019s performance continued to improve, with assets growing at 38.7 percent at end-August 2024, compared to 19.6 percent in August 2023, Governor of the Bank of Ghana (BoG) Dr Ernest Addison has said. Both pre-tax and after-tax profits were higher in the first eight months of 2024 relative to the same period last [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":67289,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-222098","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>Ghana\u2019s banking sector\u2019s performance continued to improve \u2013 Addison - 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\/2024\/09\/30\/ghanas-banking-sectors-performance-continued-to-improve-addison\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ghana\u2019s banking sector\u2019s performance continued to improve \u2013 Addison - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The banking sector\u2019s performance continued to improve, with assets growing at 38.7 percent at end-August 2024, compared to 19.6 percent in August 2023, Governor of the Bank of Ghana (BoG) Dr Ernest Addison has said. 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