Ghana’s banking sector is showing renewed strength, with total industry assets rising to GH¢465.4 billion as at February 2026. This is according to the Bank of Ghana March Monetary Policy Report, reflecting improving balance sheet resilience and stronger domestic market positioning.
The 21 percent year-on-year growth, though moderating from the previous year, signals a more stable and sustainable expansion path, underpinned by robust domestic asset growth and improving funding conditions.
A key highlight from the report is the increasing dominance of domestic assets, which now account for 93.8 percent of total industry assets, up from 88 percent a year earlier. This shift underscores a stronger local orientation of bank balance sheets and reduced exposure to external volatility.
Investment activity emerged as a major driver of growth, with total investments surging by 57.5 percent to GH¢192.8 billion. The expansion was largely driven by a sharp rise in short-term instruments, which recorded a remarkable 130.1 percent growth, reflecting improved yields in the money market and more active liquidity management by banks.
On the funding side, deposits remain the backbone of the sector, increasing by 18 percent to GH¢338.5 billion, supported mainly by domestic inflows; an indication of growing public confidence in the banking system.
The sector’s capital position also strengthened significantly, with shareholders’ funds rising by 44.1 percent to GH¢60.6 billion, buoyed by strong profitability and ongoing recapitalisation efforts.
While credit growth moderated, industry analysts see this as part of a cautious rebalancing, as banks prioritise asset quality and risk management in a stabilising macroeconomic environment.
Overall, the data points to a banking sector that is not only expanding but doing so on stronger fundamentals, positioning it to better support Ghana’s economic recovery.
