• 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

Ghs 7 billion loaned to businesses by banks between March and June 2020 – Oxford Business Group

5 years ago
in Banking & Finance, highlights, Home, home-news, latest News
1 min read
0 0
0
124
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

A total lending amount of Ghs 7 billion according to the Oxford Business Group was loaned to businesses by banks in the country in a space of three months – March to June – amid the heightening of the Coronavirus pandemic.

According to a report titled ‘Ghana’s Covid-19 Response’ by the Oxford Business Group, the little over Ghs 7 billion loaned out to businesses was enabled by the cutting down of the policy rate by 200 basis points to 14.5 per cent as well as the availability of a Ghs 3 billion syndicated loan facility to banks.

The Oxford Business Group argues in its report that, although government’s reform of the banking sector – the financial sector clean-up – fortified the sector, the industry faced several challenges after the onset of the pandemic with one of the challenges being the extra costs incurred in continuing operations while adhering to the social distancing measures.

The reduction in the reserve requirements of commercial banks from 10 per cent to 8 per cent coupled with the 1.5 percentage points reduction in the capital conservation buffer of banks, the Group notes, helped maintain liquidity in the country and made it easy for businesses to borrow.

The impact of the pandemic on Ghana’s financial sector, the Group further notes, was manageable in the first half of 2020 with two of the nation’s biggest banks – Ecobank Ghana and Ghana Commercial Bank – recording double-digit profit growth within H1 2020.

“However, the industry saw deposit growth slow from 7 per cent in May 2019 to 5.3 per cent in May 2020. The after-tax profit margin ratio for the sector fell to 5.4 per cent from 44.1 per cent in the same period a year before,” added the report.

The Oxford Business Group is of the view that, the banking sector will play a central role in Ghana’s economic recovery by providing loans to companies looking to rebuild or expand.

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

The Group applauded government for working with financial institutions to create structures that allow for easier collateral recovery and more official guarantees which would help banks provide more financing to Small and Medium Enterprises (SMEs).

Source: norvanreports
Via: Snr Fuaad Dodoo
Tags: capital conservation buffersCoronavirus pandemic.economic recoveryGhana's Covid-19 Response ReportGhs 3 billion syndicated loan facility to banksGhs 7 billion loaned to businessesOxford Business Groupreserve requirements
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.