Close Menu
John Mahama News
  • Home
  • Ghana News
  • Anti-Corruption
    • Corruption Watch
  • Economic
    • Education & Innovation
  • Environmental
    • Governance & Policy
  • Health & Welfare
    • Historical & Cultural Insights
    • Infrastructure & Development
    • International Relations
  • Ministerial News
    • Presidential Updates
  • Public Opinion
    • Regional Governance
      • Social Issues & Advocacy
      • Youth & Sports
What's Hot

Justice Gertrude Torkornoo and her $10 million lawsuit against the Government of Ghana at the ECOWAS Court of Justice:

July 11, 2025

Pensions must power industry, not just T-bills, says Nana Osei Bonsu 

July 11, 2025

‘Our appointments were unjustly revoked’ — Dismissed GRA workers petitions Mahama for reinstatement

July 11, 2025
Facebook X (Twitter) Instagram
Trending
  • Justice Gertrude Torkornoo and her $10 million lawsuit against the Government of Ghana at the ECOWAS Court of Justice:
  • Pensions must power industry, not just T-bills, says Nana Osei Bonsu 
  • ‘Our appointments were unjustly revoked’ — Dismissed GRA workers petitions Mahama for reinstatement
  • We’re going to support Akua Afriyie and face party sanctions – Mpraeso MP defies NPP orders
  • Mahama won’t abandon NDC members – Gbande defends appointments 
  • A Civic Reflection on Leadership, Legacy, and the President Ghana Never Had
  • Upper East Region records 2,436 teenage pregnancies in first five months
  • Let pensions work for Ghanaian businesses -Private Sector boss demands policy shift
  • Home
  • About Us
  • Advertise With Us
  • Contact Us
  • DMCA
  • Privacy Policy
  • Terms & Conditions
Facebook X (Twitter) Instagram
John Mahama News
Friday, July 11
  • Home
  • Ghana News
  • Anti-Corruption
    • Corruption Watch
  • Economic
    • Education & Innovation
  • Environmental
    • Governance & Policy
  • Health & Welfare
    • Historical & Cultural Insights
    • Infrastructure & Development
    • International Relations
  • Ministerial News
    • Presidential Updates
  • Public Opinion
    • Regional Governance
      • Social Issues & Advocacy
      • Youth & Sports
John Mahama News
Home » Savings and loans sector records 27% growth in lending amidst low NPL rate

Savings and loans sector records 27% growth in lending amidst low NPL rate

johnmahamaBy johnmahamaJuly 10, 2025 Infrastructure & Development No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


Ghana’s savings and loans sector recorded a significant increase in lending, rising from GH¢1.7 billion in 2023 to GH¢2.1 billion as of December 2024. This represents a 27.2 percent year-on-year growth.

The figures were presented at the 15th Annual General Meeting of the Ghana Association of Savings and Loans Companies (GHASALC) held in Accra.

The Chief Executive Officer of GHASALC, Tweneboah Kodua Boakye, attributed the strong performance to disciplined lending practices and customer-focused strategies.

“Some of our members are recording single-digit non-performing loan rates, which is very commendable,” he said.
“Our approach is simple: stay close to the customer, understand their needs, and lend within what they can realistically afford and repay on time. That way, we reduce default and free up more credit for others.”

According to the Association’s 2024 financial report, the sector’s total assets grew by 30.6 percent, from GH¢7.37 billion in December 2023 to GH¢9.63 billion in December 2024.

Customer deposits also saw strong growth, increasing by 39.4 percent year-on-year to reach GH¢6.1 billion, while net loans rose by 20.5 percent, reflecting renewed confidence in the sector’s lending capacity.

Mr. Boakye noted that by prioritizing manageable loan sizes and building strong customer relationships, savings and loans companies are helping to widen access to credit particularly for MSMEs and underserved individuals while maintaining financial stability.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.



Source link

johnmahama
  • Website

Keep Reading

Pensions must power industry, not just T-bills, says Nana Osei Bonsu 

Let pensions work for Ghanaian businesses -Private Sector boss demands policy shift

Prudential Bank, UnionPay International intensify customer engagement to boost card usage in China for traders

Standard Chartered declares dividend at 55th Annual General Meeting

GIPC launches Investment Opportunities Mapping Project

AFRICON empowers Western Region Business leaders with free AI training 

Add A Comment
Leave A Reply Cancel Reply

Editors Picks

How concerned small-scale miners’ President was arrested by anti-galamsey taskforce

July 11, 2025

GPHA commences 24-hour operations at Tema and Takoradi ports

July 10, 2025

Trends, Drivers, and Implications for Businesses, Banks and Consumers

July 10, 2025

$367m IMF cash hits BoG account

July 10, 2025
Latest Posts

Complacency exposes Africa to cybercrime

July 8, 2025

How 25 Nigerians were trafficked to Ghana, forced into large scale fraudulent activities from their Dodowa hideout

July 8, 2025

AI Training, SIM reforms and internet upgrades

July 3, 2025

Subscribe to News

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

Welcome to JohnMahama.news, your trusted source for the latest news, insights, and updates about the President of Ghana, government policies, and the nation at large. Our mission is to provide accurate, timely, and comprehensive coverage of all things related to the leadership of Ghana, as well as key national issues that impact citizens and communities across the country.

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

Facebook X (Twitter) Instagram Pinterest
  • Home
  • About Us
  • Advertise With Us
  • Contact Us
  • DMCA
  • Privacy Policy
  • Terms & Conditions
© 2025 johnmahama. Designed by johnmahama.

Type above and press Enter to search. Press Esc to cancel.