BusinessLocal NewsNews

Banking sector reforms Akufo-Addo says Ghana has experienced growth

President Akufo-Addo has revealed that the measures taken by the Bank of Ghana to sanitise the banking sector have shown good results.

President Akufo-Addo has revealed that the measures taken by the Bank of Ghana to sanitise the banking sector have shown good results.

According to him, “at the end of the first quarter of 2019, the banking industry performance in total assets, total deposits and net loans and advances, all saw positive growth.”

He added that an assessment of the performance of the banking sector showed that it is more capitalised, profitable, liquid and

stable.

The president Akufo-Addo went on to say that, it shows signs of strong prospects for increased financial intermediation.

It is therefore clear, he went on, that the measures taken has saved the industry from a precarious situation.

Before the interventions, he added, the sector had several weak capitalized banks, with balance sheets full of low performing loans, pursuing bad business models with Ghana poor governance practices, and, largely, non-existent central bank regulation.

The intervention, to him, saved the deposits of over 1.5 million Ghanaians, as well as their businesses and people they employed.

Per a Citinewsroom.com report, the president also stated that, compared to previous times, there are now minimal losses in the banking sector.

 

Source:Yen

Tags
Show More
ktk media ghana advertisement

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close

Adblock Detected

Please consider supporting us by disabling your ad blocker
%d bloggers like this: