This, he said, reflected in strong growth in investments, which was mainly funded by deposits.
Total deposits rose by 24.2 percent to GH¢104.9 billion driven by increased liquidity flows from the fiscal stimulus and payments to contractors, and to depositors and clients of defunct SDIs and SEC-licensed fund managers.
Financial soundness indicators remained strong, underpinned by improved solvency, liquidity and profitability indicators.
The industry’s Capital Adequacy Ratio of 21.8 percent as at end-April 2021, well-above the regulatory minimum threshold of 11.5 percent.
Regarding exports, he said, Total exports declined marginally by 0.2 percent year-on-year to US$5,131 million, driven mainly by a 21 percent decline in volume of gold exported.
Total imports went up by 5.8 percent to US$4,372 million, supported by increased non-oil imports.
As a result, the trade balance recorded a surplus of US$759.1 million compared with a surplus of US$1,006.3 million in the same period of 2020.
Gross International Reserves stood at US$10.99 billion at the end of April 2021, providing cover for 5.1 months of imports of goods and services.
By Laud Nartey|3news.com|Ghana]]>