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Commercial banks in Ghana: Increase in outstanding loans in February 2022

15/04/2022
Categories: Companies

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The Bank of Ghana (BoG), the central bank, has released data on credit extended by commercial banks in its March 2022 monetary policy report.

According to the report, credit extended by Ghana's commercial banks to the private sector and public institutions increased by 8.694 billion Cedis (about US$1.15 billion; +18.3%) in February 2022 compared to GH¢1.664 billion (about US$220 million; 3.6%) recorded in February 2021. "Credit to the private sector increased by GH¢7.377 billion (17.1%) in February 2022 against GH¢2.968 billion (7.4%) recorded in the corresponding period of 2021.

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