Ghana’s banking sector continues to show signs of recovery and resilience, with total industry assets climbing to GH¢465.4 billion as of February 2026, according to the Bank of Ghana’s March Monetary Policy Report.
The report indicates that the sector recorded a 21 percent year-on-year growth in total assets, reflecting stronger balance sheets, improved funding conditions and increased activity within the domestic market. Although the pace of growth has slowed compared to previous periods, analysts say the trend points to a more stable and sustainable expansion.
One of the major developments highlighted in the report is the growing dominance of domestic assets within the banking industry. Domestic assets now account for 93.8 percent of total industry assets, up from 88 percent during the same period last year. This suggests banks are becoming more locally focused while reducing exposure to external market shocks and volatility.
Investment activity also recorded significant growth during the period. Total investments rose by 57.5 percent to GH¢192.8 billion, driven mainly by increased holdings in short-term financial instruments. According to the report, short-term investments alone grew by 130.1 percent, largely due to improved money market yields and more active liquidity management by banks.
Deposits remained the main source of funding for the industry, increasing by 18 percent to GH¢338.5 billion. The growth was largely supported by stronger domestic deposits, which analysts believe reflects renewed public confidence in the banking sector following recent economic reforms and stabilisation efforts.
The sector’s capital position also improved considerably. Shareholders’ funds rose by 44.1 percent to GH¢60.6 billion, supported by stronger profitability and ongoing recapitalisation measures across the industry.
Although credit growth slowed during the period, industry observers say the moderation reflects a cautious approach by banks as they focus on maintaining asset quality and managing risks in the current economic environment.
Overall, the Bank of Ghana report paints a picture of a banking sector that is expanding on stronger foundations and gradually positioning itself to play a bigger role in supporting Ghana’s economic recovery.
