Prime News Ghana

Bank deposits picking up strongly - BoG

By Justice Kofi Bimpeh
bank_of_ghana
Bank of Ghana

Head of Banking Supervision at the Bank of Ghana, Osei Gyasi says Bank deposits have risen significantly over the last few months after the banking sector reforms.

Mr Gyasi said there has been improved customer confidence among traders that banks that survived after the reforms are capable of holding their funds.

Speaking at the CEOs Breakfast meeting by the Ghana Investment Promotion Centre (GIPC) Mr Gyasi said the outlook of the banking sector is positive and the central bank is committed to fully implement all rules and regulations which will ensure a stronger financial system.

He said, “The information we're getting indicates that there is a growth in deposit after the reform. This is because most of our market women and traders now believe that the remaining banks that survived the reform are strong and capable of managing their funds.”

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He added, “There has been a growth in confidence which is resulting in the deposit growth. We at the Bank of Ghana shall continue to implement the various laws and policies that have been enacted to see a robust banking sector. We are committed to fully implementing all the regulations that will see the Ghanaian banking sector grow to the highest peak."

He, however, admitted that some banks lost customers as a result of panic withdrawals that hit the sector during the reform.

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