The Bank of Ghana posted a profit of 1.8 billion cedis for 2019.
This is about twice the operating loss of 793 million cedis it recorded in 2018.
This has largely been attributed to the strong performance the central bank posted for the year under review.
For 2019, the Bank of Ghana’s income from fees, penalties charged to commercial banks, interests among others, reached 5.85 billion cedis compared to the 3.12 billion cedis recorded in 2018.
Though the central bank’s expenditure items such as personnel costs, rent, repairs and renewals increased from 3.92 to 4 billion cedis between 2018 and 2019, it posted more income for 2019 which contributed to the profit.
Meanwhile, the banking sector regulator’s total assets, which are those items it can lay claim to; increased by 16% within the one year period; from 59 to about 69 billion cedis.
Of this, securities such as long-term government bonds, topped with a share of 46.2 billion cedis; followed by cash and balances with correspondent banks at 7.4 billion cedis, while balances with the IMF recorded the third highest of 5.34 billion cedis.
Also, total liabilities which are those items that the central bank cannot lay claim to; also increased by 13.4% to record 67 billion cedis from the 59 billion cedis recorded in 2018.
Deposits with the central bank comprising those facilities belonging to the government of Ghana and other financial institutions, contributed the highest of 19.4 billion cedis.
It is followed by currency in circulation and liabilities to the IMF with a share of 16.3 and 10 billion cedis.
Despite the strong performance posted by the Bank of Ghana in 2019, the Board did not approve the payments of dividends for the year.
I think the admin of this web page is in fact working
hard in support of his website, for the reason that here every data is quality based information.
Hello are using WordPress for your site platform?
I’m new to the blog world but I’m trying to get started and create my own. Do
you require any coding knowledge to make your own blog?
Any help would be really appreciated!
Great article! That is the kind of info that should be shared around the net.
Shame on the search engines for not positioning this put up higher!
Come on over and discuss with my site . Thank you =)
Why viewers still use to read news papers when in this technological
globe everything is existing on net?
Hurrah, that’s what I was seeking for, what a material!
present here at this webpage, thanks admin of this web site.
Post writing is also a excitement, if you be acquainted with afterward you can write if not it is difficult to write.
These are really wonderful ideas in regarding blogging.
You have touched some good factors here. Any way keep up wrinting.
whoah this blog is excellent i really like studying
your posts. Stay up the good work! You already know,
a lot of persons are looking around for this information, you could
help them greatly.
Thank you for sharing your info. I truly appreciate your efforts and
I am waiting for your further write ups thanks once
again.