Sunday, May 22, 2022
According to the Central Bank’s Domestic Money Bank’s Income Statement, a total of GHS2.086 billion was written off as bad debt by banks operating in Ghana. The total bad debt stock was 4.7% less than that of 2020 which was GHS2.183 billion.Dear readers, last week, I shared some sentiments...
The issue of problem loans is an albatross that keeps rearing its head in the affairs of financial institutions in both and advanced and less advanced economies. Granting loans is one of the core functions of banks.What are the effects of bad loans?A bank with high percentage of bad...
Segregation of duties in the traditional lending processDespite the innovation and technological advancements in Banking, the SoD policy still runs supreme in all its operations. Banking depends on trust, but it is not absolute. It is better to say “Trust, but verify.” Many friendships have been broken because...
“Explanation is not half as strong as experience, but experience is not half as strong as experience and understanding.”… Mark  Z  DanielewskyWelcome to Part 3 of this series. Segregation of duties is a key principle in financial control, aiming to reduce the risk of fraud and error. It...
“Learn everyday, especially from the experiences of others. It is cheaper’… Jim BogleDear Reader, I hope my last article refreshed your memory of some basic banking concepts which can never be replaced or done away with. The fraud case involving the American banking officer happened in a traditional...
“...I say, that Power must never be trusted without a check.” ― John Adams, Adams-Jefferson LettersThis article is an extract from one of the chapters in my book- “The Modern Branch Manager’s Companion” published in March, 2021. Segregation of duties is an ever-ready principle in banking that sometimes get under-rated. Please...
“Self-reflection is the school of wisdom” - Baltasar Gracian “Ambitious New Year’s resolutions often end in disappointment. So instead of setting unrealistic goals in 2022, business leaders should consider making smaller, simpler changes—and they just might see better results”, says Harvard Business School Professor Hirotaka Takeuchi.Even before changes...
“You’ve got to make your team have value, innovation and vision”…. Jack MaPreparing for the closing bellFor financial institutions, December is a period for re-strategizing their operations for the coming year. They do not wait for the new year before they examine their budgets, cash flows, staffing and...
-creating a balancing act for young bankers**This was my first article in the Risk Watch column, published in October 2013. I still find it relevant after eight years****The Risk Watch series comprises of articles that focus on various risks faced by bankers in their daily routines and how best...
“Assertiveness is the quality of being self-assured and confident without being aggressive. it is a learnable skill and mode of communication”…WikipediaLast week, we examined the need for continued assertiveness by bank staff despite the changing scenarios in banking under the new normal. Once again, I wish to emphasize the appreciation...
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