Ghana’s banks have hit a surprising pause. Total assets dipped by GHC 5.3 billion in October, falling from GHC 428.6 billion in September to GHC 423.3 billion, marking the first noticeable drop after months of steady expansion.
Annual growth slowed too, from 20.7% to 15.3%, hinting that banks are becoming more cautious. The slowdown comes amid tighter liquidity conditions and ongoing measures to keep inflation in check.
Even as private-sector credit is bouncing back, the asset dip suggests banks may be trimming some exposures or managing cash more tightly. After all, the economy’s momentum has been slowing, and institutions seem to be feeling the effects.
Looking back, the last year was a story of growth. Total assets soared from GHC 367.2 billion in October 2024 to a peak of GHC 428.6 billion in September 2025, a nearly 17% jump. Deposits and loans followed suit, showing a sector firing on all cylinders…until now.
The good news however is that Ghana’s banks remain solid and resilient. Capital adequacy ratios are healthy, and non-performing loans have fallen from 23.6% mid-2025 to 19.5% in October, showing that even as assets contract, risk is being managed well.
