Business News of Tuesday, 7 January 2020Source: Myjoyonline.comNon-performing loans hit GH¢7.2bn in October 2019File photoThe total stock Non-Performing Loans (NPLs) continue to increase as it hit GH¢7.19 billion in October 2019 from GH¢7.14 billion in October 2018. It was followed by the services sector which had about 16.9 per cent of the NPLs, while the manufacturing sector had 15.1 per cent of the non-performing loans. Total Banking Sector deposits increased to GH¢78.90 billion ending 2019 from GH¢67.38 billion in October 2018. The Central Bank believes this is a sign of renewed confidence in the banking sector, following the recent reforms. Domestic deposits grew at the same pace of total deposits to GH¢78.50 billion compared to GH¢67 billion in the previous year.

Source: GhanaWeb January 07, 2020 01:52 UTC