The Bank of Ghana’s Collateral Registry Quarterly Report has shown that the value of secured loans for which collateral was registered by banks and SDIs was GH¢5.26 billion in the first quarter of 2023.
This is relative to the GH¢6.5 billion recorded in the first quarter of 2022 indicating a year-on-year decline of 19.23 percent.
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Secured loans are loans that are taken against secured assets such as a home or a landed property.
Therefore, according to the first quarter report by the Bank of Ghana, banks accounted for GH¢4.3 billion of total secured loans.
This represented a 25.1 percent decrease from the GH¢5.8 billion recorded in Q1 of 2022 and a share of 82.4 percent out of the total secured loans.
On the other hand, the SDIs recorded a total amount of GH¢924.7 million secured loans representing a share of 17.6 percent and an increase of 29.8 percent from the GH¢ 712.6 million recorded for the same period in 2022.
Also, a total of 79,364 assets were registered as collateral by Banks and Specialised Deposit-Taking Institutions in the first quarter of 2023, an increase from the 76,142 assets registered in the first quarter of 2022.
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Ernest Addison, Governor, Bank of Ghana
