Economist Blames High Cost Of Operations In Banking Industry For High Lending Rates

An economist at the Institute of Statistical, Social and Economic Research, ISSER, Dr Charles Ackah says high costs in the banking industry also accounts for high lending rates. 

These include high rent, high utilities and non-performing loans. 

Dr Ackah said this in a contribution at a forum on High Cost of Credit. 

He questioned  the rationale for recruiting people with Masters and PHD's to be cashiers at banks which all add to the cost of operations passed on to customers.

GBC