GHANA · BANKING
Key Facts
- —The country Ghana, a gold and cocoa exporter, defaulted on its debt in 2022.
- —What happened Bank of Ghana says banking assets hit GH¢500.2bn (about US$42.4bn).
- —The numbers Assets rose 20.47% from GH¢415.2bn (about US$35.2bn) a year earlier.
- —Bad loans The non-performing loan ratio fell to 15.66% from 20.77%.
- —Deadline Banks must cut that ratio to 10% by end-December 2026.
- —Still open No dates yet for the liquidity, credit-risk and AI directives.
Ghana’s banks have rebuilt their balance sheets since the 2022 debt crisis, but nearly a sixth of loans is still unpaid.
Ghana banking assets reached GH¢500.20 billion (about US$42.4 billion) at the end of August, up 20.47% in a year. Johnson Pandit Asiama, Governor of the central Bank of Ghana, gave the figure to bankers in Accra on Thursday, 8 October.
It matters abroad because Ghana’s banks took heavy losses when the government restructured domestic bonds in its 2022 debt crisis. For US investors, lenders and exporters, a healthier banking system means more credit for trade, though bad loans remain high.
Ghana Banking Assets Grow 20.47% in a Year
The August total compares with GH¢415.20 billion (about US$35.2 billion) a year earlier, according to the Governor’s remarks. The central bank published the speech on Friday, 9 October.
Citi Newsroom, an Accra news site, reported the figures on Sunday, 11 October, citing the state-run Ghana News Agency. Bank of Ghana data dated Wednesday, 23 September, already showed the same end-August total.
Month by month, growth has flattened. Assets stood at GH¢502.4 billion (about US$42.5 billion) in June and GH¢497.4 billion (about US$42.1 billion) in July.
Deposits reached GH¢362.2 billion (about US$30.7 billion) in August, up 20.7% on the year. Loans and advances rose 35.5% to GH¢129.2 billion (about US$10.9 billion).
No market forecast was published for the figure. Conversions use the open.er-api.com rate of 11.81 cedis per US$1 on Sunday, 11 October.
Measured in dollars, the gain is slightly larger. The cedi firmed from 11.40 to 11.25 per US$1 between August 2025 and August 2026, Bank of Ghana month-end rates show.
Bad Loans Fall but Stay Above the 10% Limit
The non-performing loan ratio, the share of loans not repaid as agreed, fell to 15.66% in August from 20.77%. That still means nearly a sixth of all bank lending is in trouble.
Excluding loans already classed as losses, the ratio was 3.8%, the central bank’s data show. Most of the problem therefore sits in loans that banks do not expect to recover.
Dr Asiama reminded all banks that they must cut the ratio to the prudential limit of 10% by end-December 2026. The rule comes from a Notice on Non-Performing Loans the Bank of Ghana issued in August 2025.
The central bank is also preparing a Directive on Credit Risk Management to tighten how banks grant, monitor and recover loans. He gave no publication date.
All 23 Banks Now Meet Capital Rules
The capital adequacy ratio, the cushion of own funds a bank holds against losses, rose to 19.10% from 18.28%. The regulatory minimum in Ghana is 13%.
The 2022 audited accounts showed 13 banks in breach of capital rules after the crisis and the Domestic Debt Exchange Programme. That programme swapped government bonds for new ones with lower returns and longer maturities, forcing banks to book large losses.
All 23 banks now meet the requirements, Dr Asiama said. He added that restoring regulatory capital is “only the beginning” and that buffers must match each bank’s risk profile.
The Bank of Ghana reviewed the viability of banks’ business models in 2025 and shared the weaknesses it found with each lender. A second round of this Business Model Analysis is planned for 2027.
He spoke at the 43rd annual general meeting of the Ghana Association of Banks, the industry body of the country’s banks. The meeting took place at the Ecobank head office auditorium in Accra.
New Rules on Liquidity and Artificial Intelligence
The central bank is preparing to publish a Liquidity Coverage Ratio Directive, setting how many easily sold assets banks must hold. Under international Basel standards, such a ratio covers 30 days of stressed cash outflows.
It is also developing a Directive on the Use of Artificial Intelligence in the Financial Sector. Dr Asiama said the aim is to promote “responsible experimentation and innovation” with proper governance.
Supervisors also plan thematic reviews of how banks apply the revised Cyber and Information Security Directive. He told bank boards to treat cybersecurity as a core business risk, not just a technology issue.
What It Means for US Readers
A stronger Ghanaian banking system matters to US companies that sell to, mine in or invest in Ghana. Local banks finance importers, gold and cocoa supply chains, and much of the government’s domestic borrowing.
For investors holding Ghana’s restructured bonds, better-capitalised banks lower the risk that bank losses fall back on public finances. More capital also lets banks expand lending without emergency support.
The planned artificial intelligence directive will matter to US technology firms selling credit scoring, fraud detection or cloud services to Ghanaian banks. Its scope and timing are not yet public.
The high bad-loan ratio is the main caution. Nearly a sixth of loans remains impaired, and banks have less than three months to reach the 10% limit.
What Is Not Known
The Bank of Ghana did not say how many banks are already below the 10% bad-loan limit, or which ones are not. The Governor’s remarks did not set out penalties for missing the December deadline.
No publication dates were given for the liquidity, credit-risk or artificial intelligence directives. Their final requirements are also unknown.
September banking data are not yet out, so it is unclear whether the broadly flat trend since June continued.
What Comes Next
The next Summary of Economic and Financial Data from the Bank of Ghana should update the banking figures. The 10% bad-loan deadline falls on Thursday, 31 December 2026.
A second round of business model reviews follows in 2027. The asset total measures the sector’s size, not the health of each lender.
Frequently Asked Questions
How big is Ghana’s banking sector?
Total bank assets were about US$42.4 billion at the end of August 2026, at the 11 October exchange rate. That is 20.47% more than a year earlier, according to the Bank of Ghana.
What is a non-performing loan ratio?
It is the share of loans that borrowers are not repaying as agreed. Ghana’s ratio was 15.66% in August, against a 10% limit that applies from the end of December 2026.
Why did Ghana’s banks need to rebuild capital?
The 2022 debt crisis and the Domestic Debt Exchange Programme forced banks to book large losses on government bonds. The 2022 accounts showed 13 banks breaching capital rules, and all 23 banks now comply.
Who regulates banks in Ghana?
The Bank of Ghana, the central bank, licenses and supervises the country’s banks. Its Governor is Dr Johnson Pandit Asiama.
Does this affect US investors?
Healthier banks support trade finance and ease pressure on public finances, which matters to holders of Ghanaian debt. Planned rules on artificial intelligence may also affect US technology suppliers to Ghanaian banks.
Sources: Bank of Ghana, Governor’s remarks at the 43rd GAB Annual General Meeting; Bank of Ghana, Summary of Economic and Financial Data, September 2026; Citi Newsroom (all accessed 11 October 2026).
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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