Ghana’s banking sector is showing renewed strength, with total industry assets rising to GH¢465.4 billion as of February 2026, according to the Bank of Ghana’s March Monetary Policy Report.
The sector recorded a year-on-year asset growth of 21 per cent. Although this marks a moderation compared to the previous year, it reflects a transition toward more stable and sustainable expansion, underpinned by stronger balance sheets and improved funding conditions.
A key development highlighted in the report is the increasing concentration of domestic assets, which now constitute 93.8 per cent of total industry assets, up from 88 per cent a year earlier. This shift indicates a stronger local orientation among banks and reduced vulnerability to external shocks.
Investment activity emerged as a major driver of growth, with total investments surging by 57.5 per cent to GH¢192.8 billion. The increase was largely supported by a sharp rise in short-term instruments, which grew by 130.1 per cent, reflecting favourable money market conditions and more active liquidity management.
Deposits remained the primary funding source for the sector, increasing by 18 per cent to GH¢338.5 billion. The growth was driven mainly by domestic inflows, suggesting a steady return of public confidence in the banking system.
The sector’s capital base also strengthened significantly, with shareholders’ funds rising by 44.1 per cent to GH¢60.6 billion. This improvement was supported by strong profitability and continued recapitalisation efforts.
However, credit growth slowed during the period, a trend analysts attribute to a more cautious lending approach. Banks are increasingly prioritising asset quality and risk management as economic conditions stabilise.
Overall, the data indicate that Ghana’s banking sector is not only expanding but doing so on firmer and more resilient foundations, positioning it to play a stronger role in supporting the country’s economic recovery.
