• 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

Banking Sector’s Non-Performing Loans Surge to GHS 20.4 Billion in June 2024, Says Bank of Ghana

1 year ago
in Banking & Finance, Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
92
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Banking Sector’s Non-Performing Loans Surge to GHS 20.4 Billion in June 2024, Says Bank of Ghana

The Bank of Ghana (BoG) has reported a significant increase in Non-Performing Loans (NPLs) within the banking sector, which grew by 49.4% year-on-year to GH¢20.4 billion as of June 2024, up from GH¢13.7 billion in June 2023. This rise underscores a deterioration in both domestic and foreign currency-denominated loans.

According to the BoG’s latest Monetary Policy Report, the banking industry’s NPL ratio rose sharply to 24.2% in June 2024, compared to 18.7% in the previous year. Even after adjusting for fully provisioned loan losses, the NPL ratio increased to 10.8%, up from 7.8%, driven by a broad-based rise in non-performing loan categories.

The central bank explained that the rise in the NPL ratio was due to the faster growth in the stock of bad loans relative to total loans issued during the period.

Private Sector Dominates NPLs

The private sector, the largest borrower from the banking sector, contributed the most to the rising NPLs. Its share of NPLs increased slightly to 95.6% in June 2024, from 95.5% a year earlier, while the public sector’s share declined marginally to 4.4%.

Sectoral Breakdown of NPLs

RelatedPosts

IMF Managing Director Appoints Christian Mumssen as Director of the Strategy, Policy, and Review Department

Ethiopia’s Gold Rally Fuels Confidence in Stronger Currency

Senegal’s 2026 Debt Bill Jumps 11% After Hidden Loans Scandal

The agriculture, forestry, and fishing sector experienced the highest NPL ratio, surging to 56.4% from 30.0% in June 2023. Similarly, the transportation, storage, and communication sector saw a substantial rise in its NPL ratio to 49.1%, up from 22.1%.

Other sectors also reported increases, with construction at 36.8% (up from 32.8%) and electricity, water, and gas at 20.6% (up from 7.8%). The commerce and finance sector remained stable with an NPL ratio of 20.2%.

In contrast, the mining and quarrying sector recorded the lowest NPL ratio, which increased only slightly to 13.7% from 12.7% a year earlier.

This growing burden of non-performing loans points to asset quality challenges in Ghana’s banking sector, with particular pressure on industries such as agriculture and transportation.

Tags: Bank of GhanaBanking Sector's Non-Performing Loans Surge to GHS 20.4 Billion in June 2024NPLsSays Bank of Ghana
No Result
View All Result

Highlights

PIAC yet to see Restoration of Funding Under ABFA Despite Assurance from President Mahama

GSE Closes Slightly Lower as Composite Index Falls 0.25%

Producer Price Inflation Rises Marginally to 3.2% in September 

LaLiga Cancels Barcelona vs. Villarreal Match Scheduled to Take Place in Miami

Black Queens Coach Confident Ahead Of WAFCON Qualifier Against Egypt

UEFA Champions League: Bayern and Real Madrid Stay Perfect, Liverpool and Chelsea hit Five In Record-Breaking Week

Trending

Business

IMF Managing Director Appoints Christian Mumssen as Director of the Strategy, Policy, and Review Department

October 23, 2025

IMF Managing Director Appoints Christian Mumssen as Director of the Strategy, Policy, and Review Department Kristalina Georgieva,...

Ethiopia’s Gold Rally Fuels Confidence in Stronger Currency

October 23, 2025

Senegal’s 2026 Debt Bill Jumps 11% After Hidden Loans Scandal

October 23, 2025

PIAC yet to see Restoration of Funding Under ABFA Despite Assurance from President Mahama

October 23, 2025

GSE Closes Slightly Lower as Composite Index Falls 0.25%

October 23, 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.