The total value of secured loans granted by banks and Specialised Deposit-Taking Institutions (SDIs) in the third quarter of 2024 was GH¢5.6 billion.
This is compared to the GH¢5.5 billion recorded in the third quarter of 2023, indicating a 2.8% increase on a year-on-year basis.
According to the Quarter 3 Collateral Registry Brief, banks accounted for GH¢3.5 billion of the total value of secured loans in Q3 2024, representing a decrease of 18.7% from GH¢4.3 billion in Q3 2023. In contrast, SDIs recorded a total value of GH¢2.1 billion in secured loans in Q3 2024, reflecting a 75.0% increase from GH¢1.2 billion recorded for the same period in 2023.
Banks Registered the Largest Share of Secured Loans
Banks registered the largest share of the total value of secured loans in Q3 2024, with 62.3%, compared to 78.8% in Q3 2023.
Similarly, the share of secured loans by Savings and Loans Companies increased to 23.4% in Q3 2024 from 12.7% in Q3 2023.
This was followed by Rural Community Banks (RCBs) with a share of 10.2% in Q3 2024, up from 5.35% in Q3 2023.
Additionally, the share of secured loans by Microfinance Institutions increased to 2.2% in Q3 2024 from 1.7% in Q3 2023.
The share of the total value of secured loans by Finance Houses decreased marginally from 0.5% in Q3 2023 to 0.3% in Q3 2024.
The cumulative share of secured loans from the remaining lending institutions increased to 1.6% from 1.0% during the same comparative period in 2023.
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The total number of collateral registrations recorded for Q3 2024 was 95,340, as revealed by the Bank of Ghana in its Quarterly Collateral Registry Brief.
This compares to 56,314 registrations in the same quarter of 2023, reflecting a 69.3% year-on-year growth.
A breakdown of registrations across the various categories of lenders showed that Savings and Loans Companies (S&Ls) dominated with 82,737 registrations in Q3 2024, marking an increase of 81.4% from the 45,601 registrations recorded in Q3 2023.
Registrations of collateral by Rural and Community Banks (RCBs) also increased by 31.2%, from 6,278 in Q3 2023 to 8,235 in Q3 2024.
Conversely, registrations by banks declined by 12.7%, from 2,019 in Q3 2023 to 1,763 in Q3 2024. Leasing Companies recorded only 7 registrations, the lowest during the period under review, down from 11 registrations in Q3 2023.
Searches Inched Up to 17,727 in Q3 2024
Meanwhile, the total number of searches conducted at the Collateral Registry in Q3 2024 rose by 16.6% (year-on-year) to 17,727, compared to 15,204 in Q3 2023.
Savings & Loans Companies conducted 13,049 searches, accounting for 73.6% of the total number of searches conducted during the review period.
This was followed by RCBs, with 3,229 searches, representing 18.2%, and banks with 885 searches, representing 5.0% of all searches conducted at the Registry in Q3 2024.
Microfinance and Micro Credit Institutions conducted the least number of searches, with respective percentage shares of 1.2% and 0.1% in Q3 2024.
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