This report covers developments in the Ghanaian banking sector for the first seven months of 2016 compared to the same period last year. As at July 2016, the sector comprised 30 banks, of which fifteen (15) were domestically controlled.
The banks managed 1,173 branches and 912 Automated Teller Machines (ATMs) distributed across the ten (10) regions of the country. Broadly, the overall performance of the banking sector as at July 2016 remained strong, despite marginal declines in some financial soundness indicators, measured in terms of earnings, portfolio
quality and efficiency.
Annual growth in total assets of the industry picked up in July 2016 compared to the previous year and was largely accounted for by the significant increase in banks’ investments in bills and securities as well as the sharp increase in foreign assets.
The resultant increase in total assets from the rise in investments and foreign assets was moderated by the decline in the growth of banks’ advances to its customers due to the rise in their non-performing loans.
