The Director \u2013 General of the Securities and Exchange Commission (SEC), Dr. Adu Anane Antwi, is calling on investment advisors to come up with innovative ways to\u00a0attract investors to invest in banking stocks.<\/p>\n
[contextly_sidebar id=”BlTIos8AqVuAsWQSG6kSSAhPtagTRBgX”]According to him though banking stocks have not performed well recently due to high Non Performing Loans (NPLs), current trends show a recovery in banking stocks.<\/p>\n
Speaking to Citi Business News<\/strong>,\u00a0the Director \u2013 General of SEC said the banking stocks have been the driver of the Ghana Stock Exchange.<\/p>\n \u201cThe banking stocks are the ones that generally have been driving the performance of the stock exchange but we all know that the economic situation is affecting many of the companies and therefore they are unable to service their debts. So that is a fact that we are all aware of that it is affecting the banks.\u201d<\/p>\n But Dr. Adu Anane Antwi stated that \u201cthings seem to be turning around for the banks which will have a positive impact on their stocks.\u201d<\/p>\n The SEC boss\u00a0contends government\u2019s commitment to clear the legacy debts owed banks by the power sector and the BDC\u2019s is equally building trust in the banking sector and its stocks.<\/p>\n There is an ongoing debate on the viability of banking stocks as the sector is seen to be one of the high risk areas due to the rise in non performance loans among banks.<\/p>\n \u201cBut it is up to the investment advisors to come out with innovative ways to get investors to consider banking stocks. They have the license and are the professionals who have the insight and do research and analysis in the sector. We advice generally that people should invest.\u201d Dr Adu Anane Antwi stated.<\/p>\n This comes after an assertion from the chairman of IFS Capital Management Ltd, Samuel Agyapong Apenteng warned that banking stocks in the country are currently one of the high risk areas for fund managers to invest due to the rise in non performing loans among banks.<\/p>\n Speaking to Citi Business News<\/strong> during the Annual General Meetings of the three unit schemes managed by the IFS Capital Management Ltd, Samuel Agyapong Apenteng said the year under review saw banking stocks drop massively leading to the my -wealth unit trust fund having to move its funds to other areas.<\/p>\n \u2013<\/p>\n By: Norvan Acquah \u2013 Hayford\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":" The Director \u2013 General of the Securities and Exchange Commission (SEC), Dr. Adu Anane Antwi, is calling on investment advisors to come up with innovative ways to\u00a0attract investors to invest in banking stocks. [contextly_sidebar id=”BlTIos8AqVuAsWQSG6kSSAhPtagTRBgX”]According to him though banking stocks have not performed well recently due to high Non Performing Loans (NPLs), current trends show […]<\/p>\n","protected":false},"author":14,"featured_media":229327,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[32,171,11],"tags":[],"class_list":["post-245969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-local-economy","category-top-stories"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/245969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=245969"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/245969\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/229327"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=245969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=245969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=245969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}