Bank of Ghana releases banking sector report
January 2, 2019
Banks in the country are moving away from lending to investments as they restructure their balance sheets. This is according to the Bank of Ghana in its November 2018 banking sector report. The report, which is published after the Monetary Policy Committee (MPC) meetings, highlight developments in the banking sector that were deliberated upon during the policy-making process.
The report puts together the financial position of the 30 banks in the country as at October 2018. The report indicates that 13 of these banks are locally-controlled while 17 are foreign-controlled.
Bank asset allocation for the period under review, October 2018 were as follows:
–40.3% to investments
–28.7% to loans and advances
–23.7% to cash and due from banks
–3.6% to fixed assets.