Ghana’s banks grow stronger as assets hit GH¢465bn

Ghana’s banking sector is strengthening, with total assets reaching GH¢465.4 billion as of February 2026, according to the Bank of Ghana’s March Monetary Policy Report.

This marks a 21% year-on-year increase slower than last year, but a sign of more stable and sustainable growth.

The expansion is being driven mainly by stronger domestic assets and improved funding conditions.

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Domestic assets now make up 93.8% of total industry assets, up from 88% a year ago, showing banks are relying more on local markets and are less exposed to external risks.

Investments played a major role in this growth, rising sharply by 57.5% to GH¢192.8 billion.

This was largely due to a surge in short-term instruments, which grew by 130.1%, as banks took advantage of better returns in the money market.

Deposits continue to be the main source of funding, increasing by 18% to GH¢338.5 billion, driven by local inflows—an indication of rising public confidence in the banking system.

The sector’s capital base also improved significantly, with shareholders’ funds growing by 44.1% to GH¢60.6 billion, supported by strong profits and ongoing recapitalisation.

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Although credit growth slowed, this reflects a more cautious approach by banks, focusing on managing risks and maintaining asset quality.

Overall, the sector is not just growing, but doing so on stronger foundations, putting it in a better position to support Ghana’s economic recovery.

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