Ghana's banking sector has experienced significant growth, with total assets reaching GH¢500.20 billion as of August 2026. This represents a 20.47% increase from GH¢415.20 billion recorded in August 2025. According to Bank of Ghana Governor, Dr. Johnson Pandit Asiama, the growth is attributed to improvements in the banking sector, supported by better macroeconomic conditions and regulatory and supervisory reforms undertaken by the central bank.
The banking sector's Capital Adequacy Ratio has also shown improvement, rising from 18.28% in August 2025 to 19.10% in August 2026. This is significantly above the regulatory minimum of 13%. Dr. Asiama made this announcement at the 43rd Annual General Meeting of the Ghana Association of Banks in Accra on October 8. The improvement in capital adequacy indicates a stronger financial position for banks in Ghana.
Asset quality in the banking sector has also seen a positive trend. The Non-Performing Loans (NPL) ratio declined from 20.77% in August 2025 to 15.66% in August 2026. This reduction suggests that banks have made progress in managing their loan portfolios and reducing the risk of default. All 23 banks operating in Ghana have met regulatory capital requirements, following efforts to restore capital after the economic crisis and financial asset impairments associated with the Domestic Debt Exchange Programme (DDEP).
Dr. Asiama noted that 13 banks had previously breached regulatory capital requirements in their 2022 audited financial statements. However, collaborative efforts involving banks, shareholders, investors, the Government, and the Bank of Ghana have helped restore compliance across the sector. While capital restoration is a significant achievement, Dr. Asiama cautioned that it is insufficient to guarantee long-term stability on its own.
To ensure long-term stability, Dr. Asiama urged banks to strengthen their business models, risk management, and capacity to withstand future economic shocks. The Bank of Ghana undertook a comprehensive thematic review of the viability and long-term sustainability of banks' business models in 2025. Vulnerabilities identified were shared with the respective institutions, and engagements with the boards and senior management of affected banks have commenced.
A second round of Business Model Analysis is planned for 2027 to further assess the sustainability of banks' business models. Dr. Asiama emphasized that the reviews aim to ensure that banks maintain sustainable business models and adequately manage risks embedded in their operations. Banks are also required to reduce their NPL ratios to the prudential limit of 10% by the end of December 2026.
The Bank of Ghana will continue to strengthen its regulatory and supervisory frameworks to preserve the gains made by the banking sector. Dr. Asiama stated that the central bank aims to ensure that stronger balance sheets translate into sustainable operations and greater support for productive economic activity. The growth in banking assets and improvements in capital adequacy and asset quality reflect a positive trend for Ghana's banking sector.
Key points
- Ghana's banking assets have reached GH¢500.20 billion, representing a 20.47% increase from the previous year.
- The banking sector's Capital Adequacy Ratio has improved to 19.10%, above the regulatory minimum of 13%.
- Banks are required to reduce their Non-Performing Loans ratios to 10% by the end of December 2026.
