Finance Minister Ken Ofori-Atta has said, despite the challenging effects of the government’s Domestic Debt Exchange Programme (DDEP), banking sectors in the country have demonstrated some level of relatively strong performance in the first half of the year 2023.
Mr. Ofori-Atta made the revelation during the 2023 mid-year budget review in Parliament on Monday, July 31, 2023.
Highlighting the developments in the banking sector, the Finance Minister stated that the Banks have reported some amount increased deposits and investments, higher profitability, and a return on equity of over 35 percent
“The impact of the DDEP, such as the increase in nonperforming loans (NPLs), was partly moderated by the timely introduction of temporary regulatory reliefs.”
Mr. Ofori-Atta further “The operationalization of the USD750 million Ghana Financial Stability Fund and the planned recapitalization of banks would ensure stability as well as strengthen financial intermediation to support the private sector.”
Apexnewsgh.com/Ghana
Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 0256336062
