Access to bank loans improves – Survey

The latest credit conditions survey conducted by the Bank of Ghana (BoG) in January 2011 shows that access to credit continues to improve.

According to the central bank, this development was due to commercial banks easing credit conditions through reductions in margins on average loans and increased size of credit.

“Commercial banks eased credit conditions for both small and medium sized and large enterprises through reductions in margins on average loans and increased size of credit”, said Mr Amissah-Arthur, central bank governor at a Monetary Policy Committee press conference in Accra on February 18, 2011.

“The survey points to an overall improvement in credit conditions for both households and enterprises”, Mr Arthur added.

The survey also revealed that credit conditions for mortgages continue to be tightened through additional collateral requirements.

The Bank maintained its policy rate at 13.5% for the third conservative time.
By Ekow Quandzie