Mr. Chairman, Ghana’s Savings and Loans sub-sector is made up of some 39 companies as at the end of March 2019, and dominates the Specialised Deposit-Taking Institutions (SDI) sector, accounting for 44.6 percent of total SDI assets. In March 2019, total assets of the sector increased to ¢ million, up from ¢ million a year earlier. 8.
Mr. Chairman, despite the growth in total assets, some S & L companies continue to be faced with poor asset quality, solvency and liquidity challenges. Indeed, as regulators, we have observed some worrying trends which require the attention of all stakeholders. In addition to liquidity and solvency issues, several financial soundness indicators of the industry have adversely deviated from accepted statutory and prudential benchmarks.