BoG caution banks against complacency over economic recovery

The Governor of the Bank of Ghana (BoG), Dr Johnson Pandit Asiama, has cautioned banks against complacency following significant gains recorded in the country’s macroeconomic stability and banking sector recovery.

Speaking at the 43rd annual general meeting (AGM) of the Ghana Association of Banks (GAB) in Accra yesterday, Dr Asiama, however, said the task now was to ensure that the stronger balance sheets translated into sustainable business models, stronger risk management and greater support for productive economic growth.

Sector performance The Governor further said that recording significant improvements in the banking sector reflected improved macroeconomic conditions and continued regulatory and supervisory reforms by the central bank.