{"id":336533,"date":"2017-07-14T19:10:53","date_gmt":"2017-07-14T19:10:53","guid":{"rendered":"http:\/\/citifmonline.com\/?p=336533"},"modified":"2017-07-14T19:10:53","modified_gmt":"2017-07-14T19:10:53","slug":"average-interest-on-deposits-drops-marginally-in-june-bog-report","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/07\/average-interest-on-deposits-drops-marginally-in-june-bog-report\/","title":{"rendered":"Average interest on deposits drops marginally in June – BoG report"},"content":{"rendered":"

PiusThe average interest offered by banks on customer deposits dropped by 2.67\u00a0percent between May and June 2017.<\/p>\n

According to the latest Annual Percentage Rates (APR) and Average Interest (AI) report by the Bank of Ghana, the figure declined from 11.2 to 10.9 percent within the one month period.<\/p>\n

Although its rate has dropped marginally, Omnibank still offers the highest interest rates on customer deposits at 17.3 percent.<\/p>\n

It is immediately followed at the 2nd<\/sup>\u00a0and 3rd<\/sup>\u00a0position, by Bank of Baroda and the Royal Bank with 15.4 and 14.7 percent respectively.<\/p>\n

The 4th<\/sup>\u00a0and 5th<\/sup>\u00a0positions are occupied by Stanbic Bank and First Atlantic Bank with interests on customer deposits at 14.1 and 13.8 percent.<\/p>\n

They are followed by the United Bank for Africa and GN Bank which occupy the 6th<\/sup>\u00a0and 7th<\/sup>\u00a0positions with their interests at 13.6 percent and 13.3 percent.<\/p>\n

At the 8th,<\/sup>\u00a09th \u00a0\u00a0<\/sup>10th<\/span>\u00a0and 11th<\/sup>\u00a0positions are Bank of Africa, Capital Bank, Unibank, UT Bank and Zenith Bank with interests on deposits at 13.0, 12.6, 11.6 and 11.5 percent in that order.<\/p>\n

Also, with 11.4, 11.1, 10.9 and 10.5 percent, HFC Bank, National Investment Bank, First National Bank, FBN Bank, Prudential Bank and Sovereign Bank occupy the 12th<\/sup>, 13th 14th<\/sup>\u00a0and 15th<\/sup>\u00a0positions in that order.<\/p>\n

Barclays Bank and Fidelity Bank occupied the 16th<\/sup>\u00a0and 17th<\/sup>\u00a0position with 10.4 and 10.0 percent.<\/p>\n

Also, Access Bank, Societe General, and Heritage Bank took the 18th, 19th<\/sup>\u00a0and 20th<\/sup>\u00a0slots with interests on customer deposits at 9.8, 9.7 and 9.6 percent.<\/p>\n

Ecobank, ADB Bank, BSIC ,Cal Bank and GCB Bank placed 21st, 22nd, 23rd, 24th and 25th with 9.2, 9.1, 9.0, 8.7 and 7.6 percent in that order.<\/p>\n

Occupying the 26th and 27th positions are Guaranty Trust Bank and Standard Chartered Bank with 7.4, and 5.9 percent on customer interest.<\/p>\n

The 28th<\/sup>\u00a0position was filled by Energy Bank with 5.7 percent interest on customer deposit.<\/p>\n

In all, thirty two banks offer average interest on customer deposits according to the Bank of Ghana.<\/p>\n

–<\/p>\n

By: Jessica Ayorkor Aryee\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"

PiusThe average interest offered by banks on customer deposits dropped by 2.67\u00a0percent between May and June 2017. According to the latest Annual Percentage Rates (APR) and Average Interest (AI) report by the Bank of Ghana, the figure declined from 11.2 to 10.9 percent within the one month period. Although its rate has dropped marginally, Omnibank […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[121,32,171,11],"tags":[],"yoast_head":"\nAverage interest on deposits drops marginally in June - BoG report - Citi 97.3 FM - Relevant Radio. 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