• 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

Secured loans by banks, SDIs dip in value by 32.7% to GHS 5.5bn at end-November 2023

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
loan application in business folder showing financial investment concept

loan application in business folder showing financial investment concept

89
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Secured loans by banks, SDIs dip in value by 32.7% to GHS 5.5bn at end-November 2023

Total value of secured loans extended and registered by banks and Specialized Deposit-Taking Institutions (SDIs) in the third quarter of 2023 according to the November 2023 Economic Analysis Report by CedisPay, witnessed a substantial decrease, amounting to GHS 5.5 billion.

This marks a significant 32.7% drop from the GHS 8.1 billion reported in the corresponding quarter of 2022. The downturn is particularly pronounced in the banking sector, with secured loans contracting by 40.8%, falling from GHS 7.3 billion in Q3 2022 to GHS 4.3 billion in Q3 2023.

In contrast, SDIs experienced a noteworthy uptick, recording GHS 1.2 billion in secured loans—a robust 36.4% increase from the previous year.

Delving into the lending rates terrain, the report provides insights into the nuanced dynamics across various financial institutions. Banks showcased the lowest average lending rate for all secured loans in Q3 2023, standing at 26.5%. This compares with the 20% lending rate in Q3 2022 and 26.9% recorded in Q2 2023.

Leasing Companies observed a contrasting trend, witnessing an upswing in their average lending rate to 28.1% in Q3 2023 from 17.4% in Q3 2022. Finance and Leasing Companies also registered an increase, with the average lending rate climbing to 30.5% in Q3 2023 from 29.6% in the corresponding period last year.

Regional Rural Banks (RCBs) also experienced a rise in the average lending rate on secured loans, reaching 35.3% in Q3 2023, up from 33.2% in Q3 2022. Micro Credit Companies, however, exhibited a significant reduction in their average lending rate, dropping to 41.5% in Q3 2023 from 56.7% in the corresponding quarter of 2022.

RelatedPosts

NorvanReports@5 – Reflections of the First Employee

Can Ghana’s “Big Push” Learn from the GIIF Model?

Guinea-Bissau, IMF Reach Staff-Level Agreement on Ninth ECF Review

Savings and Loans companies however reported a modest decrease, recording an average lending rate of 44.1% in the period under review, compared to 45.0% in Q3 2022. Among the banks and SDIs, Micro Credit Companies stood out with the highest average lending rate at 58.6% in Q3 2023, showcasing an increase from 51.7% in the same quarter of the previous year.

 

Tags: BanksSDIsSDIs dip in value by 32.7% to GHS 5.5bn at end-November 2023Secured loans by banks
No Result
View All Result

Highlights

MPS Completes Phase 2 of Tema Port Expansion Project Cementing Ghana’s Role as West Africa’s Trade Hub

Domestic VAT Collections Rise 33.6% to GHS 8.31bn 

African Development Bank and Niger Sign $144.7 Million Agreement to Boost Energy Access, Economic Competitiveness and Resilience

Ghana’s Fifth IMF Review Nears Completion; $360m Disbursement Hinges on Outcome

EPA Boss Pegs Pilot Test of Nano-Based River Dechemicalisation Technology at $200,000

US-Based Engineer Questions Scientific Validity of EPA’s River Dechemicalisation Programme

Trending

Features

NorvanReports@5 – Reflections of the First Employee

October 6, 2025

NorvanReports@5 - Reflections of the First Employee Parvus sed potens – this popular saying, translated as “small...

Can Ghana’s “Big Push” Learn from the GIIF Model?

October 6, 2025

Guinea-Bissau, IMF Reach Staff-Level Agreement on Ninth ECF Review

October 6, 2025

MPS Completes Phase 2 of Tema Port Expansion Project Cementing Ghana’s Role as West Africa’s Trade Hub

October 6, 2025

Domestic VAT Collections Rise 33.6% to GHS 8.31bn 

October 6, 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.