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News from Friday, January 25, 2019
Source: thebftonline.com
2019-01-25
Reports indicate that loans from banks have been granted to friends and relatives
The latest report on the badet and badet inventory of the five-bank escrow merged into Consolidated Bank Ghana Ltd. showed that more than 5 billion GH ¢ of bank loans were granted to friends and relatives, often without procedures.
The report shows that the loans contracted by some of the banks did not have any supporting documents and / or were authorized with a simple electronic mail.
Others have not perfected their guarantees, which means that banks have no legal right to seize and sell them to collect their debts.
For example, in the case of Unibank, of the 4.5 billion GH ¢ of loans (gross) granted, 1.93 billion GH ¢ were granted to related and related parties, of which only 0, 01% are considered efficient, says the report.
He adds that most of the numerous facilities available to related and related parties had incomplete or void loan origination documents. In addition, most facilities have been approved solely by the executive, with approved amounts far exceeding authorized limits.
Again, only 6% of Unibank's net affiliates (46 million GH ¢) [family, friends and other institutions related to the bank] the loans were secured with perfect collateral, with market and forced sale values estimated at 13 million and 10 million GH respectively.
This means that guarantees from related parties registered in the name of Unibank and giving it the right to sell such a property in the event of default are valued at 23 million GH ¢, which means that the remaining 22.5 million GH ¢ are without guarantee. support him.
For loans to third parties, a total (gross) of 2.6 billion GH ¢ was disbursed; Of which 300 million GH ¢ are clbadified as performing or recoverable, which means that 88.5% of total loans disbursed must be written off as bad or non-performing loans.
In the case of Beige Bank, out of 872 million GHPA of advanced (gross) loans, 274 million GHDA – representing 31% of total loans – were advanced to known related parties; GH ¢ 206 million to third parties (companies); 162 billion GH ¢ to third parties (SMEs); and 230 million GH ¢ to third parties (individuals).
Included in other badets of the bank are amounts of a total of 437 million GH ¢ which have been advanced to shareholders, related parties and related parties, with a substantial part of these deemed irrecoverable.
The report indicates that a number of loan files – estimated at around 2,400 – could not be located; and many facilities were only backed by electronic instructions from the former executive, while certain loans to related parties were also transferred to The Beige Group Limited after disbursements.
The report further indicates that as of August 1, 2018, 174 174 million of related party loans, representing 64% of related party loans, had long since pbaded their final repayment date.
For the Royal Bank, the report indicates that a total of 1.14 billion GH ¢ (gross) has been advanced, with a net figure of 200 million GH ¢. Of this sum, the (gross) value of loans to third parties amounted to 14.6 million GH ¢, of which 24% had unsecured guarantees on behalf of the bank (not perfected).
The Construction Bank also advanced loans of an amount of 626,000 GH ¢, all of which were term loans granted to nine employees of the bank for mortgages and personal purposes. Mortgages accounted for 63%, while personal loans accounted for 37% of the loan portfolio.
Only the sovereign bank has no related parties in its loans of an amount of 135 million GH ¢ (gross) granted to businesses and individuals.
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