Business News of Monday, 13 January 2020Source: citinewsroom.comT-bills, bonds dominate income sources of banks – BoG reportBoG industry report showed that income from investments reached 47.47 billion cedis in October 2019It is emerging that banks are still accruing a large percentage of their income from their investments in various securities. The Bank of Ghana’s industry report showed that income from investments comprising bills and securities reached 47.47 billion cedis in October 2019; compared to the 42.84 billion cedis recorded in the preceding year. Also, securities which refer to stocks or investments in companies and bonds which usually mature after ten years and above, gave banks 30.99 billion cedis last year indicating a rise from the 28.02 billion cedis made in the year before. Meanwhile, income from loans, the second income generating venture for banks, declined to 34.5 percent from 36.1 percent during the same review period. However, other income category, described as residual, increased marginally to 8.5 percent from 8.2 percent during the period under review.

Source: GhanaWeb January 13, 2020 06:22 UTC