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
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On Monday, 17th September, 2018, I ended my 4-day tour of the Central Region, with separate durbars at Mankessim, in the Mfantseman constituency, and at Winneba, in the Effutu constituency. I also attended the induction ceremony, in Winneba, of the 4th Vice Chancellor of the University of Education, Winneba. I also commissioned a newly constructed lecture theatre for the University, which has been described as the largest lecture theatre of any University in the country.
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.