The average interest rate at which commercial banks lend to their customers remained unchanged at 25.7% in December 2017.<\/p>\n
This is the third consecutive time that the base rates have been kept unchanged at 25.7 percent.<\/p>\n
The base rate is the lowest rate at which a bank would lend to its customers.<\/p>\n
According to the Bank of Ghana\u2019s Annual Percentage Rates (APR) and Average Interest (AI) report, the Premium Bank tops with its base rate at 34.2 percent<\/p>\n
This is however a reduction from the previously recorded 35.5 percent in November 2017.<\/p>\n
Of the thirty-one (31) banks surveyed in the Bank of Ghana\u2019s report, Premium Bank is followed by Unibank with the second highest base rate at 33.7 percent.<\/p>\n
This is also a marginal reduction from the 34.9 percent it quoted as at November last year.<\/p>\n
The Royal Bank, which topped the list in November last year with 35.5 percent as its base rate, now occupies the third position with a base rate of 33.6 percent.<\/p>\n
The fourth and fifth positions are occupied by Sovereign Bank and Heritage Bank.<\/p>\n
Their base rates are 32.7 and 30.2 percent respectively.<\/p>\n
According to the report however, the five relatively lower base rates range between 15.8 and 19.4 percent.<\/p>\n
The banks that are found within this range include Societe General and Stanbic Bank with base rates at 19.4 and 18.4 percent respectively.<\/p>\n
Also, with 18.1 and 18 percent, Barclays Bank and Standard Chartered Bank place second and third positions among banks with relatively lower base rates.<\/p>\n
The Bank of Baroda\u2019s base rate is at 15.8 percent making it the bank with the least figure.<\/p>\n
–<\/p>\n
By: Anita Arthur\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"
The average interest rate at which commercial banks lend to their customers remained unchanged at 25.7% in December 2017. This is the third consecutive time that the base rates have been kept unchanged at 25.7 percent. The base rate is the lowest rate at which a bank would lend to its customers. According to the […]<\/p>\n","protected":false},"author":14,"featured_media":378185,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[121,32,171,11],"tags":[],"class_list":["post-392259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-and-finance","category-business","category-local-economy","category-top-stories"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/392259","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=392259"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/392259\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/378185"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=392259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=392259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=392259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}