The Association of Ghana Industries and other industry players have been pushing for banks to reduce their lending rates to the relief of businesses - The central bank has added its voice to this – urging banks to duly respond with lower lending rates.
The Head of Banking Supervision of the Bank of Ghana, Raymond Amanful, speaking at the opening of Heritage Bank’s branch at East Legon called on banks to consider reducing their lending rates to make credits more affordable.
Mr. Raymond Amanful said, “…we expect banks to respond favorably to the decline in monetary policy rate and the Treasury bill rate. This I believe would make credits more affordable while boost productivity and at the same time have a favorable effect on the non-performing loan structure of Ghana”
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