Banks earn $24.8 billion in foreign exchange transactions – Auditor-General report
All 23 commercial banks in the country reported total earnings of $24.8 billion from foreign exchange transactions for the year 2020.
This is according to the Auditor-General’s Report on the consolidated statements on the foreign exchange receipts and payments of the Bank of Ghana (BoG) for the year ended December 31, 2020.
The amount earned by the various banks in the country was deduced by the Auditor-General, from the banks’ submission of their monthly returns on foreign exchange earnings to the Central Bank.
Earnings by the 23 dealer commercial banks were made from handling foreign exchange earnings inflows on behalf of their customers.
Of the 23 dealer commercial banks, Ecobank led with earnings of $2.64 billion closely followed by Stanbic Bank with earnings of $2.50 billion.
OMNI BSIC/Sahel Sahara was the bank with the least earnings of $8.1 million.