• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Banking & Finance

Average bank lending rate falls to 20.9% in April 2021

4 years ago
in Banking & Finance, highlights, Home, home-news, latest News
1 min read
0 0
0
77
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

The average lending rate or cost of loans offered by the various banks in the country has declined by 1.5 percentage points from 22.4 percent in April 2020 to 20.9 percent in April 2021.

According to the Central Bank, the fall in the average lending rate was triggered by a marginal decline in interbank lending rate from 14 percent to 13.6 percent.

With a reduction in the monetary policy rate by 100 basis points to 13.5 percent, average lending rates is expected to further decline in the near-term, thereby making cost of loans to businesses and individuals less expensive.

Generally, the banking sector, according to the Central Bank, maintained its resilient performance through to end-April 2021, with strong growth in total assets, deposits and investments.

Total assets increased by 16.4 percent to GH¢155.7 billion reflecting strong growth in investments in government securities by 34.9 percent to GH¢73.3 billion, mainly funded by deposits and loan repayments.

Also, total deposits recorded an annual growth of 24.2 percent to GH¢104.9 billion on the back of the strong liquidity flows from the fiscal stimulus and payments to contractors, and to depositors and clients of defunct SDIs and SEC-licensed fund managers respectively.

Financial soundness indicators the BoG further notes, remained strong, underpinned by improved solvency, liquidity and profitability indicators. The industry’s Capital Adequacy Ratio of 21.8 percent as at end-April 2021 was well above the regulatory minimum threshold of 11.5 percent.

RelatedPosts

Inflation to Remain Within 8+/-2 Target Band by End-Q4, Says BoG Governor

BoG to Begin $1.1bn FX Intermediation Under Domestic Gold Purchase Programme this October

Ghana Aims for Victory Against Central African Republic in Crucial World Cup Qualifier

Bank’s net interest income for the period under review also grew by 18.4 percent to GH¢4.1 billion, compared with the 18.8 percent growth over the same comparative period. Net fees and commissions grew stronger by 26.5 percent to GH¢917.6 million, relative to 8.8 percent growth during same period last year, reflecting a gradual recovery in trade finance-related and other ancillary businesses of banks.

Accordingly, operating income rose by 16.8 percent, marginally higher than the corresponding growth rate of 15.2 percent a year ago.

“Overall, the impact of the pandemic on the industry’s performance was moderate, as banks remained liquid, profitable and well-capitalized,” noted the Governor.

Source: norvanreports
Tags: average lending rateCapital Adequacy RatioCentral Bankfinancial soundness indicators
No Result
View All Result

Highlights

Banks Write off GHS 893m in Bad Loans for First Half of 2025 

Former Bank of Ghana Deputy Governor Wins Inaugural Women in Leadership Fellowship at Oxford

Banking Industry: Non-Performing Loans Edge Higher to GHS 20.7bn

‘The Gulf of Guinea is our Wall Street, IMF, and World Bank Combined’, Says Air Vice Marshal Hanson 

GJA President Underscores Vital Role of Journalists in Safeguarding Ghana’s Maritime Domain

Barrick Exits Ivory Coast With $305 Million Tongon Mine Sale

Trending

Banking & Finance

Inflation to Remain Within 8+/-2 Target Band by End-Q4, Says BoG Governor

October 7, 2025

Inflation to Remain Within 8+/-2 Target Band by End-Q4, Says BoG Governor Governor of the Bank of...

BoG to Begin $1.1bn FX Intermediation Under Domestic Gold Purchase Programme this October

October 7, 2025

Ghana Aims for Victory Against Central African Republic in Crucial World Cup Qualifier

October 7, 2025

Banks Write off GHS 893m in Bad Loans for First Half of 2025 

October 7, 2025

Former Bank of Ghana Deputy Governor Wins Inaugural Women in Leadership Fellowship at Oxford

October 7, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.