Please pay your loans – GCB MD to Ghanaians

According to him, this has contributed to the surge in non-performing loans in the banking sector.

The MD further asked banks to ensure that they retrieve loans given to customers.

“We have a bad habit in Ghana. We borrow money and we don’t want to pay. We have to pay. The bank should go out and collect the money. It is as a result of this that our NPLs are rising. It is as a result of this that pricing for loans is very expensive.

“We should make it a habit that you go to a bank to borrow…it doesn’t matter whether it is a GCB or XCB …. when you borrow money, your responsibility is to pay back and the banks must go out and collect their money and that is what GCB is doing otherwise we cannot lend,” John Kofi Adomakoh said.

He noted that if the attitude of not paying back loans continues, the banking sector will be greatly affected.

“If you continue to borrow from the bank and you don’t pay back, then the banks cannot lend…we are an emerging economy…we are a growing economy we have huge opportunities and banks have a role to play in making sure that liquidity is available for businesses to thrive. The general public please let’s pay your loans,” he noted.