The Bank of Ghana has disclosed that its Quarterly Collateral Registry Brief recorded a total of 95,340 collateral registrations for Q3 2024.

In the same quarter of 2023, BoG recorded 56,314 to 95,340 reflecting a 69.3% year-on-year growth.

Savings and Loans Companies led the registrations with 82,737 in Q3 2024, an 81.4% increase from 45,601 in Q3 2023.

Rural and Community Banks also saw growth, with registrations rising from 6,278 in Q3 2023 to 8,235 in Q3 2024, a 31.2% increase.

However, banks recorded a decline of 12.7%, with registrations dropping from 2,019 in Q3 2023 to 1,763 in Q3 2024.

Leasing companies had the fewest registrations, recording only 7 in Q3 2024, down from 11 in Q3 2023.

The number of checks done at the Collateral Registry went up in the third quarter of 2024, reaching 17,727 compared to 15,204 in the same period of 2023—a 16.6% increase.

Savings and Loans Companies did the most searches, totaling 13,049, which made up 73.6% of all searches.

Rural and Community Banks came next with 3,229 searches, making up 18.2%, while banks conducted 885 searches, or 5% of the total.

Microfinance and Micro Credit Institutions performed the fewest checks, with just 1.2% and 0.1%, respectively.