The interest rate at which commercial banks lend to their customers remained unchanged at 25.7% in November 2017.<\/p>\n
The same figure was recorded in the month of October 2017.<\/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 Royal Bank tops with its base rate at 35.5.<\/p>\n
This is however a reduction from the previously recorded 35.7 percent.<\/p>\n
At the second position is Unibank with 34.9 percent base rate.<\/p>\n
Premium Bank occupies the third position with a base rate of 33.7 percent.<\/p>\n
The fourth and fifth positions are occupied by Sovereign Bank and Omnibank.<\/p>\n
Their base rates are 33.3 and 32.4 percent respectively.<\/p>\n
At the 6th<\/sup>, 7th, 8th<\/sup>\u00a0and 9th and positions are National Investment Bank, Heritage Bank, HFC and United Bank for Africa with base rates at 30.4, 30.2 , 28.7 and 27.9 percent.<\/p>\n The tenth position is occupied by Energy Bank and FBN Bank Ghana with a base rate of 27.8 percent.<\/p>\n BSIC, CAL Bank and Bank of Africa placed 11th<\/sup>, 12th<\/sup>\u00a0and 13th<\/sup>\u00a0with 27.4, 27.2 and 26.4 percent base rate.<\/p>\n Prudential Bank came in at the 14th<\/sup>\u00a0position with its percentage on base rate at 26.1 percent.<\/p>\n While Access Bank occupies the 15th<\/sup>\u00a0position with their percentage on base rate at 26 percent.<\/p>\n Occupying the 16th<\/sup>\u00a0to 20th<\/sup>\u00a0positions are Ecobank, First Atlantic Bank, Guaranty , GCB Bank and GN Bank.<\/p>\n Their interest is at 25.9, 25.2, 24.8 , 24.2 and 23.2 percent respectively.<\/p>\n At the 21st<\/sup>\u00a0position is ADB Bank is 22.9 percent.<\/p>\n Zenith Bank and First National Bank both occupy the 22nd<\/sup>\u00a0position with a base rate at 21.5 percent.<\/p>\n The 23rd<\/sup>, 24th<\/sup>\u00a0and 25th<\/sup>\u00a0positions are Fidelity Bank, Societe General and Barclays Bank with base rates of 21.2, 18.9 and 18.1 percent.<\/p>\n Also, with, 18.0 and 16.2 are Standard Chartered Bank and Stanbic Bank Stanbic Bank, with the 26th\u00a0<\/sup>and 27th<\/sup>\u00a0positions.<\/p>\n The 28th<\/sup>\u00a0position is occupied by Bank of Baroda with a base rate of 15.8 percent.<\/p>\n In all, thirty one banks were surveyed.<\/p>\n –<\/p>\n By: Anita Arthur\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":" The interest rate at which commercial banks lend to their customers remained unchanged at 25.7% in November 2017. The same figure was recorded in the month of October 2017. The base rate is the lowest rate at which a bank would lend to its customers. According to the Bank of Ghana\u2019s Annual Percentage Rates (APR) […]<\/p>\n","protected":false},"author":14,"featured_media":204253,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[121,32,11],"tags":[793,15574],"yoast_head":"\n