• 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

Credit Bureau Searches Surge 114.6% in 2024 on Back of Digital Loan Growth 

6 minutes ago
in Business, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
1
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Credit Bureau Searches Surge 114.6% in 2024 on Back of Digital Loan Growth 

Searches on the database of credit bureaus more than doubled in 2024, rising by 114.60% to 29,496,440 from 13,745,137 in 2023, the Credit Reporting Activity 2024 has revealed.

According to the report, the searches were conducted by financial institutions and other authorised users of the Credit Reference System, with the sharp increase largely driven by the expansion of digital loans offered by various lenders.

On a monthly basis, an average of 2,458,037 enquiries were made in 2024, representing a 16.24% rise compared to the 2,114,636 average recorded in 2023. The report noted that the sustained growth underscores the increasing integration of credit reports and histories into credit management processes across different types of institutions.

Borrower Profile Trends

The data showed that 55% of the searches targeted individual borrowers, while 44% were conducted to assess the creditworthiness of digital loan customers.

However, enquiries on corporate customers declined sharply from 472,579 in 2023 to 105,953 in 2024. This drop was attributed to a slowdown in private sector credit amid elevated interest rates, persistent cedi depreciation, high non-performing loan (NPL) ratios, and strategic lending decisions by financial institutions.

RelatedPosts

BoG Reports 15.19% Decline in Dud Cheques Issued in 2024

Naira Stable as External Reserves Hit Eight-Month High of $40.15bn

Helicopter Crash: One Ghana Movement Calls for State-Funded Life Insurance Policy for Dependents of Government Appointees

Interestingly, the fall in corporate credit enquiries contrasts with a 26.3% increase in nominal private sector credit in 2024, compared to 10.7% in 2023 — suggesting that lenders may be advancing larger loans to a smaller pool of corporate clients.

By contrast, enquiries on individual borrowers continued their upward trajectory, reflecting the growing role of credit reports in facilitating retail lending.

Tags: Credit BureauCredit Bureau Searches Surge 114.6% in 2024 on Back of Digital Loan Growth

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Helicopter Crash: One Ghana Movement Calls for State-Funded Life Insurance Policy for Dependents of Government Appointees

Government on Course to Exceed 2025 Macroeconomic Targets 

Finance Ministry Invites Public Input for 2026 – 2029 Budget

CHAN 2024: Uganda Dominates Guinea; South Africa Holds Algeria

Ipswich Salvages Late Point in Championship Opener Against Birmingham

GFA and BetPawa Enhance partnership; Locker Room Bonus Extended to Malta Guinness Women’s Premier League for 2025/26 Season

Trending

Banking & Finance

BoG Reports 15.19% Decline in Dud Cheques Issued in 2024

August 9, 2025

BoG Reports 15.19% Decline in Dud Cheques Issued in 2024 The Bank of Ghana’s (BoG) Credit Reporting...

Credit Bureau Searches Surge 114.6% in 2024 on Back of Digital Loan Growth 

August 9, 2025

Naira Stable as External Reserves Hit Eight-Month High of $40.15bn

August 9, 2025

Helicopter Crash: One Ghana Movement Calls for State-Funded Life Insurance Policy for Dependents of Government Appointees

August 9, 2025

Government on Course to Exceed 2025 Macroeconomic Targets 

August 9, 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.