The Bank of Ghana has reaffirmed that the banking sector remains sound, and well-capitalised with strong growth in total assets, investments and deposits. Total assets of the universal banks, in the first 10 months of the year, has increased by 16.1 percent to GH¢173.8 billion, reflecting strong growth in investments in government securities by 25.5 percent to GH¢83.4 billion. In its Monetary Policy Committee report released yesterday, the BoG said the gradual growth in gross advances has continued, with 8.9 percent growth as at end October 2021 compared to the end-June position of 5.2 percent growth. Deposits grew by 17.2 percent year-on-year to GH¢117.4 billion on the back of strong liquidity flows. The industry’s Capital Adequacy Ratio of 19.8 percent as at end-October 2021 was well above the current regulatory minimum threshold of 11.5 percent,” the report noted. Read also: Credit to private sector contracts in 2nd quarter 2021-BoG Core liquid assets to short-term liabilities was 2...