Bad loans in banking sector grow by 49.4% to GH¢20.4bn – BoG

The Bank of Ghana reports a sharp 49.4% rise in Non-Performing Loans (NPLs) to GH¢20.4 billion as of June 2024, up from GH¢13.7 billion a year earlier.

The NPL ratio climbed to 24.2% from 18.7%.

The private sector remains the largest contributor to NPLs, accounting for 95.6%.

The agriculture, forestry, and fishing sector had the highest NPL ratio at 56.4%, while mining and quarrying had the lowest at 13.7%.

This increase reflects worsening asset quality and higher loan defaults across various sectors.

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