Over 25m enquiries conducted by financial institutions for credit appraisals, others in 2025
Meanwhile, an average of 2,160,089 enquiries were conducted by financial institutions and authorised users monthly.
The Bank of Ghana reported a 12.12% decrease in credit application appraisals, loan recoveries and Know Your Customer inquiries conducted by financial institutions and authorized users in 2025, totaling over 25 million. This decline contrasts with the 29,496,440 inquiries made in 2024. Traditional loan inquiries saw a significant reduction, while the use of credit bureau services increased, highlighting the importance of credit referencing in lenders' credit administration processes.
The report, in line with the Credit Reporting Act of 2007, also noted an average of 2,160,089 enquiries made monthly in 2025, a 12.1% decrease from the 2,458,037 average monthly inquiries in 2024. Financial institutions and authorized users accounted for 86.28% of the total enquiries. The data-driven insights from the report provide valuable information for regulators, industry participants, and the public.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
