Stanbic Bank led the market share of banks that invested heavily on the Ghana Stock Exchange Fixed Income Market in 2021, controlling 25.21% of the total value of securities traded.
It was followed by GCB Bank which dislodged Standard Chartered Bank to the second position. Ghana’s second biggest bank held 12.40% of government securities, largely bonds.
CalBank came third holding 10.89% of the total value of Government of Ghana securities.
The three banks together controlled 48.5% of banks investments in government securities on the debt market.
While Stanbic Bank invested ¢3.82 billion of their funds in government securities, GCB Bank exposure to government securities was estimated at ¢1.88 billion. CalBank investments in government securities was however ¢1.65 billion.
Ecobank Ghana (8.69%), Fidelity (6.67%), Access (6.56%), Consolidated Bank (5.90%), Standard Chartered Bank (4.12%) and Absa Bank (4.13%) followed in the 4th, 5th, 6 th , 7 th , 8 th and 9 th positions respectively.
Together, they controlled 36.07% of the share of the debt market, investing about ¢3.14 billion of their funds on the Ghana Fixed Income Market.
From the month-on-month figures, some of the banks such as Stanchart reduced their investments in government securities before 2021 ended, whilst others such as GCB Bank increased their holdings in the government securities.
National Investment Bank and Agricultural Development Bank were the only two banks that did not invest on the Ghana Fixed Income Market, based on the report.
According to Bank of Ghana, banks investments in bills, securities and equity remained the largest component of total assets in 2021.
The share of banks investments in total assets increased to 46.5%, from 42.3%, reflecting the 28.8% year-on-year growth in investments in June 2021.This is relative to the sluggish growth in credits.