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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In 2023, the total value of secured loans was estimated at GH¢5.9 billion.

According to the Collateral Registry Banks accounted for GH¢9.1 billion of total secured loans in quarter 2 2024, depicting an increase of 85.7% from GH¢4.9 billion recorded in quarter 2, 2023.

On the other hand, the Specialized Deposit Taking Institutions (SDIs) recorded a total secured loans of GH¢1.7 billion in quarter 2 2024.

This is an increase of 75.1% from GH¢971.1 million recorded for the same period in 2023.

Banks registered largest share of total value of secured loans in quarter 2 2024

Meanwhile, banks registered the largest share of the total value of secured loans in quarter 2 2024, with 83.8%, relative to the share of 83.7% in quarter 2,2023.

The share of secured loans by S&Ls declined to 9.5% in the second quarter of 2024 from the share of 9.8% recorded in quarter 2 2023.

This was followed by the Rural and Community Banks (RCBs) with a percentage share of 5.2% in quarter 2, 2024 from 4.4% in quarter 2, 2023.

The share of secured loans by Microfinance Institutions declined marginally to 1.0% in quarter 2, 2024 from 1.1% in quarter 2, 2023.

The share of the total value of secured loans by Micro Credit Companies decreased marginally from 0.3% in quarter two 2023.