Banks wrote off ¢3.19 billion as bad debt in October 2023, a 9.5% growth year-on-
year, the Domestic Banks Income Statement published by the Bank of Ghana
revealed.
This is compared to the ¢2.92 billion registered during the same period in 2022. The
provision were in the form of loan losses, depreciation, among others.
According to the Bank of Ghana, asset quality risks elevated in October 2023,
reflecting the pickup in the Non-Performing Loans stock and NPL ratio during the
period.
Source: Joy Business News
Read more: https://www.myjoyonline.com/banks-wrote-off-%c2%a23-19bn-as-
bad-debt-in-october-2023/
