In the third quarter of 2024, the total value of secured loans provided by banks and Specialised Deposit-Taking Institutions (SDIs) amounted to GH¢5.6 billion, representing a 2.8% year-on-year increase compared to GH¢5.5 billion in the same period of 2023.

Breakdown by Institution

According to the Quarter 3 Collateral Registry Brief, banks contributed GH¢3.5 billion to the total secured loans in Q3 2024. However, this was an 18.7% decrease from the GH¢4.3 billion recorded in Q3 2023. In contrast, SDIs experienced significant growth, granting secured loans worth GH¢2.1 billion in Q3 2024, a 75.0% rise from the GH¢1.2 billion recorded in Q3 2023.

Market Share Distribution

Banks continued to dominate the secured loan market in Q3 2024, accounting for 62.3% of the total value, though this was a drop from their 78.8% share in Q3 2023.

Savings and Loans Companies: Their share rose to 23.4% in Q3 2024, up from 12.7% in Q3 2023.

Rural and Community Banks (RCBs): Their portion increased to 10.2% in Q3 2024, compared to 5.3% in Q3 2023.

Microfinance Institutions: These institutions saw a rise in their share to 2.2% in Q3 2024, up from 1.7% in Q3 2023.

Finance Houses: Their share slightly declined to 0.3% in Q3 2024 from 0.5% in Q3 2023.

Other Lending Institutions: The collective share of remaining institutions grew to 1.6% in Q3 2024, compared to 1.0% in Q3 2023.


Overall, the figures highlight shifts in the contributions and market shares of different financial institutions within the secured loans sector.

Source: TheDotNews