This report covers developments in the Ghanaian banking sector as at the end of June 2017. The sector comprised thirty-six (36) banks, nineteen (19) of which were domestically-controlled and the remaining seventeen (17) foreign-controlled.
The branch network of the banks stood at 1,377 branches distributed across the ten (10) regions of the country.
The performance of the banking sector for the first half of 2017 was mixed with some key performance indicators pointing to better performance in June 2016 compared with June 2017.
Most banking sector indicators declined in June 2017, but remained within the statutory or regulatory thresholds. The industry also recorded strong total asset growth in June 2017 compared with the same period last year, driven by strong growth in investments and domestic assets.
Gross advances also picked up in June 2017 compared with the June 2016 level. However, results of the credit conditions survey conducted by the Bank of Ghana in June 2017 also indicated net tightening in the credit stance of banks on loans to enterprises and households in the second quarter of 2017.
In addition, the survey pointed to a decline in the industry’s inflation and lending rates expectations a year ahead due to sustained decline in inflation and general improved expectations regarding the performance of the economy.
