The Bank of Ghana has disclosed that its Quarterly Collateral Registry Brief recorded a total of 95,340 collateral registrations for Q3 2024.In the same quarter of 2023, BoG recorded 56,314 to 95,340 reflecting a 69.3% year-on-year growth.Savings and Loans Companies led the registrations with 82,737 in Q3 2024, an 81.4% increase from 45,601 in Q3 2023.

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Rural and Community Banks also saw growth, with registrations rising from 6,278 in Q3 2023 to 8,235 in Q3 2024, a 31.2% increase.However, banks recorded a decline of 12.7%, with registrations dropping from 2,019 in Q3 2023 to 1,763 in Q3 2024.Leasing companies had the fewest registrations, recording only 7 in Q3 2024, down from 11 in Q3 2023.

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The number of checks done at the Collateral Registry went up in the third quarter of 2024, reaching 17,727 compared to 15,204 in the same period of 2023—a 16.6% increase.Savings and Loans Companies did the most searches, totaling 13,049, which made up 73.6% of all searches.Rural and Community Banks came next with 3,229 searches, making up 18.2%, while banks conducted 885 searches, or 5% of the total.

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Microfinance and Micro Credit Institutions performed the fewest checks, with just 1.2% and 0.1%, respectively.

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