The banking sector remains solvent, profitable and liquid - BoG Governor

This is alongside improving asset quality, he said.

He said the average banking lending rate declined by 15.9 per cent. Private sector credit growth rebounded.

"The banking sector remains solvent, profitable, and liquid, alongside improving asset quality. In August 2026, total assets of the sector increased by 20.5 percent, year-on-year, to GH¢500.2 billion, supported by robust deposit mobilisation and growth in other funding sources. Capital Adequacy Ratio of the banking system improved further to 19.1 percent in August 2026 from 18.3 percent in August 2025. Asset quality also improved, with the NonPerforming Loan (NPL) ratio declining to 15.7 percent from 20.8 percent over the same period, supported by the strong rebound in credit growth. Despite the improvement in the industry’s asset quality, credit risk remained elevated. Banks are, therefore, expected to adhere to the NPL guidelines to bolster confidence in the financial system," he said during the 132nd MPC press conference in Accra on Thursday, September 24.

The MPC maintained the policy rate at 14%.

Dr Asiama also said that headline inflation, at 5 per cent in August, is well below the lower bound of the 8±2 per cent band despite domestic cost pressures in housing, transport and services, with exchange rate stability containing imported inflation and expectations easing across all surveyed groups.

On the global scene, Dr Asiama said that global tensions have constricted global supply chains.

On the domestic front, he said, the committee observed continued economic resilience activities.