Private sector credit continued to grow during the review period to 21.7 percent in August 2024, from 10.7 percent in August 2023, Governor of the Bank of Ghana (BoG) Dr Ernest Addison has said.
In real terms, private sector credit recorded a growth of 1.1 percent, relative to a 21.0 percent contraction in 2023, he said.
Generally, Dr Addison said, the banking sector's performance continued to improve, with assets growing at 38.7 percent at end-August 2024, compared to 19.6 percent in August 2023.
Both pre-tax and after-tax profits were higher in the first eight months of 2024 relative to the same period last year, he said.