A GN Research analysis of Bank of Ghana’s (BoG) annual percentage rates (apr) and average interest (ai) have shown that 74% of banks in the country failed to match the 300 basis point reduction in Monetary Policy Rate (MPR) for the first half of the year. Unfortunately, decisions by the central bank have limited effects … Read more
Research wing of Groupe Nduom (GN) conglomerate, GN Research, has stressed that reductions in the Monetary Policy Rate (MPR) will continue to have marginal effect on commercial bank rates so far as bank specific factors that are considered in the determination of commercial bank’s rates do not improve. Key among these factors, GN Research disclosed … Read more
Banks are paying an average of 11.9 per cent per annum as interest on deposits but charging their borrowers an average of 33.4 per cent as nominal interest on loans annually, data from the Bank of Ghana (BoG) on the annual percentage rates (APRs) and Average Interest (AI) of banks has shown. While interest on … Read more