The total amount of secured loans issued and recorded by banks and Specialised Deposit-Taking Institutions (SDIs) in Ghana reached GH¢10.8 billion in the second quarter of 2024.
This figure represents an 83.1% increase compared to the GH¢5.9 billion reported during the same period last year, according to the Bank of Ghana’s Collateral Registry.
Banks led the secured loans market with GH¢9.1 billion in Q2 2024, marking an 85.7% rise from GH¢4.9 billion in Q2 2023.
In contrast, SDIs reported GH¢1.7 billion in secured loans for Q2 2024, which is a 75.1% increase from GH¢971.1 million in the same period of 2023.
Banks held the largest share of the total secured loans in Q2 2024 at 83.8%, up slightly from 83.7% in Q2 2023.
Savings and Loans Companies (S&Ls) saw their share decrease to 9.5% in Q2 2024, down from 9.8% in Q2 2023.
Rural and Community Banks (RCBs) increased their share to 5.2% in Q2 2024, compared to 4.4% in the same period last year.
The proportion of secured loans held by Microfinance Institutions slightly declined to 1.0% in Q2 2024 from 1.1% in Q2 2023, while Micro Credit Companies also saw a minor decrease from 0.3% in Q2 2023.