The Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, has announced that all 23 banks operating in Ghana have met the regulatory capital requirements. This achievement marks the completion of a recovery process that began after the Domestic Debt Exchange Programme. Dr Asiama made this disclosure at the 43rd Annual General Meeting of the Ghana Association of Banks and the launch of the sixth edition of the GH Bankers' Voice Magazine in Accra on October 8, 2026.
According to Dr Asiama, the 2022 audited financial statements showed that thirteen banks had breached regulatory capital requirements due to the economic crisis and financial asset impairments. However, through collective efforts, all 23 banks have now met the regulatory capital requirements. Dr Asiama emphasized that restoring regulatory capital was only the beginning and that the focus must now shift to ensuring that banks maintain capital commensurate with their risk profiles and build sufficient buffers to withstand future shocks.
Dr Asiama highlighted that the risks confronting banks were becoming increasingly complex, and boards and senior management were expected to have a clear understanding of the risks embedded in their institutions' business models. The Bank of Ghana undertook a comprehensive thematic review of the viability and long-term sustainability of banks' business models in 2025. The vulnerabilities identified have been shared with the respective institutions, and engagements with boards and senior management have commenced.
The banking sector in Ghana has recorded significant improvement since 2025, reflecting improved macroeconomic conditions and continued regulatory and supervisory reforms. As of August 2026, total banking sector assets had increased by 20.47% to GH¢500.20 billion, compared with GH¢415.20 billion a year earlier. The sector remains well-capitalized, with the Capital Adequacy Ratio improving from 18.28% to 19.10%, significantly above the regulatory minimum of 13%.
Dr Asiama cautioned against interpreting the improvement as the end of the reform journey, stating that the task now was to ensure that stronger balance sheets translate into sustainable business models, stronger risk management, and greater support for productive economic activity. He reminded banks of the requirement to reduce their Non-Performing Loans (NPL) ratios to the prudential limit of 10% by the end of December 2026. Asset quality has improved, with the NPL ratio declining from 20.77% in August 2025 to 15.66% in August 2026.
The Bank of Ghana is issuing a Directive on Credit Risk Management to complement the NPL Notice, and banks must strengthen underwriting standards, credit administration, loan monitoring, restructuring practices, collateral management, write-offs, and recovery processes. Dr Asiama also announced that the Bank was in the process of publishing the Liquidity Coverage Ratio Directive, which would establish the prudential liquidity requirement for banks and mark an important milestone in strengthening liquidity regulation.
Dr Asiama emphasized that the banking sector must build strong risk cultures, sustainable business models, and institutions that can serve customers through both good times and periods of stress. The ambition should be to build a banking sector strong enough to absorb shocks, innovative enough to adapt to change, and capable of financing Ghana's long-term economic transformation. The Governor also highlighted the importance of cybersecurity, digital fraud, data protection, and artificial intelligence in the banking sector, with the Bank of Ghana developing a Directive on the Use of Artificial Intelligence in the Financial Sector.
Key points
- All 23 banks in Ghana have met regulatory capital requirements.
- The banking sector in Ghana has recorded significant improvement since 2025.
- Dr Asiama emphasizes the need for sustainable business models and stronger risk management.
