Banks’ assets hit GHC465bn as sector shows renewed strength – BoG report

Ghana’s banking sector is showing renewed strength, with total industry assets rising to GHC465.4 billion ($XX billion) as of February 2026, according to the latest report by the Bank of Ghana.

The central bank’s March Monetary Policy Report said the 21% year-on-year growth, though slower than the previous year, reflects a more stable and sustainable expansion supported by stronger domestic asset growth and improved funding conditions.

Domestic assets now account for 93.8% of total industry assets, up from 88% a year earlier, signalling a shift towards local market exposure and reduced vulnerability to external shocks.

Investment activity was a key driver, with total investments rising by 57.5% to 192.8 billion cedis. This was largely driven by a surge in short-term instruments, which grew by 130.1%, as banks took advantage of improved yields in the money market.

Deposits remained the backbone of the sector, increasing by 18% to 338.5 billion cedis, supported mainly by domestic inflows — an indication of rising public confidence in the banking system.

The sector’s capital base also strengthened, with shareholders’ funds climbing 44.1% to 60.6 billion cedis, buoyed by strong profitability and ongoing recapitalisation efforts.

While credit growth slowed, analysts say this reflects a cautious shift by banks towards preserving asset quality and managing risks in a stabilising macroeconomic environment.

Overall, the data points to a banking sector that is expanding on firmer fundamentals, positioning it to better support Ghana’s economic recovery.