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The total value of secured loans granted by banks and specialised deposit-taking institutions (SDIs) reached GH₵5.6 billion in the third quarter of 2024, marking a 2.8% year-on-year increase from GH₵5.5 billion in Q3 2023, according to the Bank of Ghana’s collateral registry data.
Sector Performance Breakdown
- Banks: Contributed GH₵3.5 billion, representing a decline of 18.7% from GH₵4.3 billion in Q3 2023.
- SDIs: Accounted for GH₵2.1 billion, a sharp 75% increase from GH₵1.2 billion in the same period last year.
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Share Distribution
- Banks: Held the largest share at 62.3%, though down from 78.8% in Q3 2023.
- Savings and Loans Companies: Increased their share to 23.4% from 12.7%.
- Rural and Community Banks: Saw their share rise to 10.2% from 5.3%.
- Microfinance Institutions: Grew their share slightly to 2.2% from 1.7%.
- Finance Houses: Declined marginally to 0.3% from 0.5%.
- Other Lending Institutions: Their cumulative share increased to 1.6% from 1.0%.
The data highlights a shifting landscape in Ghana’s secured loan market, with SDIs significantly increasing their contribution while banks see a reduction in dominance.
