A total of 86,719 assets were registered as collateral in the 3rd quarter of 2023, the quarterly Collateral Registry Report from the Bank of Ghana has revealed.
This is up from 76,874 assets registered during the same year in 2022 and 81,180 recorded in quarter 2, 2023.
According to the report, movable assets constituted a share of 70.0%, the largest proportion of the registered collateral for loans granted within the reporting period.
Immovable assets had the lowest proportion of registered collateral for loans granted with a 1.9% share.
Both Immovable and Movable assets (e.g., Company/Business Assets) accounted for 28.1% of the total number of collateral registered. The major collateral types used to secure loans were cash and inventories/stock of goods.
Realisation of security: 116 requests received from lending institutions
In terms of realisation of security interests, the registry received a total of 116 realisation requests from various lending institutions.
To this end, 70 Memorandum of No Objection certificates were issued in the 3rd quarter of 2023 to facilitate collateral enforcement. This compares with 109 certificates issued in the same period in 2022.
Banks were the highest recipients with 32 Memorandum of No Objection certificates, representing 45.7%, followed by Savings and Loans Companies with 31 Memorandum of No Objection certificates, representing 44.3 percent.
Microfinance Companies also received a total of 5 Memorandum of No Objection certificates representing 7.1%. Finance Houses and Other lender types received one Memorandum of No Objection certificate each, representing 2.8%.
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