Dr. Ernest Addison – Governor BoG
THE BANK of Ghana (BoG) has projected a rebound in private sector credit growth from the first quarter of 2019.
This follows a move by commercial banks to tighten loans to enterprises during the last two months of 2018.
BoG in its financial sector report for January 2019 also projected an easing of banks’ credit stance over the first quarter of 2019, in line with their enhanced capital levels following the completion of the recapitalization exercise to a minimum of GH¢400 million.
According to the report, private sector credit growth continues to recover following the sharp dip to 2.4 percent over the 12 month period up to March 2018.
It said annual growth in private sector credit for 2018 was 10.6 percent, compared with 13.4 percent growth over the previous year.
According to the report, outstanding credit to the private sector at the end of December 2018 was GH¢37,593.2 million, compared with GH¢33,987.0 million a year earlier.
BY DGN Online