Banks Write Off GHC175 Million
Bank's total provision for the first two months still remained high, according to the latest Banking Sector Report. Commercial banks in Ghana made a provision for bad debt of GH¢175 million at the...
Tag: credit
Banks Write Off GHc175m
Banks total provision for the first two months still remained high, according to the latest Banking Sector Report. Commercial banks in Ghana made a provision for bad debt of GH¢175 million at the...
How Bad Corporate Debts Are Holding Back India’s Growth
The recent arrest of Vijay Mallya highlighted the problem of bad loans in India, but analysts say the tycoon's unpaid debts are just the tip of an iceberg that is already holding back the country's...
Wonga Breach Affects ‘up To 270,000 In UK and Poland’
The payday loan firm Wonga has said up to 270,000 of its customers may have been affected by a data breach. The firm said it was "urgently investigating illegal and unauthorised access to the...
NPLs May Rise Over Capping of Statutory Funds
The Minority Spokesperson on Finance, Ato Forson, says district assemblies may struggle to meet their obligations to contractors, a situation that may intend make it difficult for contractors to...
Banks To Reduce Loan Defaults As It Intensifies Search For Collaterals
Banks have intensified their search for collaterals from businesses and loan applicants in a bid to reduce growing number of non-performing loans (NPLS) in the banking sector that had hit GH¢ 6.2...
High Cost of Production To Blame For Non-Performing Loans
An economist, Adu Owusu Sarkodie, has attributed the high level of nonperforming loans to the high cost of production and doing business in the country. Per the latest Bank of Ghana (BoG) Financial...
BoG To Address Credit Challenges
The Bank of Ghana (BoG) says it’s working closely with the International Finance Corporation (IFC) to ensure the enactment of a new Borrowers and Lenders Act. The new law is to address all...
5 Ways To Get Out of Debt If You Earn A Small Income
There’s a very high possibility that if you are earning a small income, you will borrow money to sustain yourself. It does not have to be this way because being in debt can be very stressful and...
Ghanaian Banks Face High Asset Risks, Despite Solid Capital Buffers
High asset risks pose the biggest challenges for banks in Ghana, says Moody's Investors Service in a report published today. "We expect asset risk for banks in Ghana to remain high over the coming...
Banks Minimize Lending Due To High NPLs
Citi Business News has gathered that banks in Ghana have reduced lending to the private sector due to the continuous rise of Non Performing Loans(NPLs). The banks believe the move will reduce the...
The Bank of Ghana is optimistic of a further drop in the Non-Performing Loans (NPLs) of commercial banks at least by the first quarter of this year. Figures from the central bank indicate that the...
Non-Performing Loans Drop From 19 To 17% – BoG
Non-performing loans are set to reduce further downwards The Central Bank is optimistic non-performing loans will witness some significant decline in the next few months. Latest figure from the Bank...
Banks Express Hope In Reduction of NPL In 2017
The Energy sector debt owed to banks is the major contributor to Non Performing Loans in the country Banks in the country are optimistic of reducing the high Non Performing Loans recorded in the...
SIC Insurance Explains Deal With Ivory Finance
SIC Insurance, Ghana’s largest general insurer, has provided insights into a deal it entered into with Ivory Finance for the construction of affordable houses in the country about three years ago....
NPP Gov’t Must Continue Legacy Debt Payments
The Managing Director of HFC bank, Robert Le Hunte is optimistic the incoming Nana Akufo-Addo government will continue with the plans laid down by the Ministry of Finance in paying the legacy debt....
No Bonuses For Banks Staff As Mounting Debts Trigger Write-Offs
Staff of universal banks will be denied their bonuses this year as rising Non- performing loans in the sector crossed GH¢6.1 billion for the seven months of the year. Several bank staff who spoke to...
Mahama Trapped In Fraudulent $300 Million Infrastructure Deal
Reports reveal that Mahama has venture into a false security infrastructure deal worth a whopping $300 million! The Mahama government is accused of effectively “stealing” $300 million from state...
Mahama Caught In Bogus $300m ‘security Infrastructure’ Deal
The Mahama government is accused of effectively “stealing” $300 million from state coffers as they face their electoral fate in two weeks’ time at the December 7 presidential and parliamentary...
Bankers Optimistic of Drop In NPLs By End of 2016
The impact of the high Non-Performing Loans (NPLs) on the books of commercial banks is set to reduce by the close of this year. At least this is the confidence expressed by some managers of banks....