The Bank of Ghana recorded a profit of ¢1.23 billion in 2021, lower than ¢1.57 billion recorded in 2020, its 2021 Audited Financial Statement has revealed.
A total of 981.4 million dollars has been set aside from the income to buy gold and other foreign assets.
A total of 372.11 million (2020: 403.37 million) has also been put aside as approved expenditures from reserves for gold purchase, asset replacement, contingencies, emergency interventions, corporate social responsibility, and other purposes, according to the statement.
In 2021, the Central Bank earned $3.46 billion in interest income and $209.6 million in fees and commissions, according to the financial statement.
It did, however, record an operating expense of $3.75 billion, down from $4.28 billion in 2020.
Additionally, the controller of the financial business burned through ¢179 million on cash the board in 2021 including printing of cash. This is against ¢347.8 million kept in 2020.
As far as resources of the Central Bank, it has ¢3.08 billion in gold ventures, while offsets with the International Monetary Fund remained at ¢11.8 billion every 2021. This is contrasted and ¢3.07 billion and ¢5.76 billion every 2020 individually.
For liabilities, liabilities to the IMF remained at ¢16.6 billion every 2021, generally the same as ¢16.01 billion out of 2020.
¢25.2 billion money was available for use in 2021, contrasted and ¢23.3 billion out in 2020.
As far as going concerned, the assertion said “the Directors, hence, have a sensible assumption that the Bank has sufficient assets to go on in functional presence for years to come. Consequently, the going concern premise has been taken on in setting up the yearly budget reports of the Bank and the Group.”
In the interim, the Directors of the Bank of Ghana didn’t suggest the installment of profit for 2021, the same as the earlier year.
Source: http://xplonlinegh.com
