• 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

Secured Loans Hit GHS 5.6 Billion in Q3 2024, Up 2.8% Year-on-Year

8 months ago
in Banking & Finance, Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
749
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Secured Loans Hit GHS 5.6 Billion in Q3 2024, Up 2.8% Year-on-Year

The total value of secured loans granted by banks and Specialised Deposit-Taking Institutions (SDIs) in the third quarter of 2024 amounted to GH¢5.6 billion, marking a 2.8% increase compared to the GH¢5.5 billion recorded in the same period in 2023.

According to the Q3 2024 Collateral Registry Brief by the Bank of Ghana, banks contributed GH¢3.5 billion to the total secured loans, representing an 18.7% decline from the GH¢4.3 billion recorded in Q3 2023.

In contrast, SDIs saw significant growth, disbursing GH¢2.1 billion in secured loans during Q3 2024, a 75.0% surge compared to GH¢1.2 billion in the prior year.

Banks Retain Majority Share Despite Decline

Banks continued to dominate the secured loans market in Q3 2024, accounting for 62.3% of the total value, although this was a reduction from 78.8% in Q3 2023.

Savings and Loans Companies followed, with their share climbing to 23.4% in Q3 2024 from 12.7% a year earlier.

RelatedPosts

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

Rural Community Banks (RCBs) increased their share to 10.2%, up from 5.3% in Q3 2023, while Microfinance Institutions recorded a modest rise to 2.2%, from 1.7% in the same period last year.

Conversely, Finance Houses saw their share of secured loans drop to 0.3% in Q3 2024, compared to 0.5% in Q3 2023. The combined contribution of other lending institutions edged up to 1.6% from 1.0% over the same period.

Sector Outlook

The report underscores a shift in lending dynamics, with SDIs increasing their participation in the secured loans market as banks scale back their exposure.

This trend highlights the growing role of alternative financial institutions in addressing credit demand across diverse sectors of the economy.

Tags: GHS 5.6 Billionsecured loansSecured Loans Hit GHS 5.6 Billion in Q3 2024Up 2.8% Year-on-Year

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

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

Sha’Carri Richardson Withdraws from US Trials Following Arrest

From Singuluma to El Kaabi: Can CHAN 2024 Unleash the Next Hat-trick Hero?

Ghana to Welcome King’s Baton Relay on August 8 Ahead of 2026 Commonwealth Games

Trending

Features

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

August 2, 2025

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes Parliament has adjourned...

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

August 2, 2025

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

August 2, 2025

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

August 2, 2025
Bank of Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

August 2, 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.