Ghana’s banking sector assets rise 20.47% to GH¢500.2bn – BoG Governor

The Governor, however, cautioned that capital restoration alone was insufficient to guarantee long-term stability, urging banks to strengthen their business models, risk management and capacity to withstand future economic shocks.

He said 13 banks had breached regulatory capital requirements in their 2022 audited financial statements, but efforts involving banks, shareholders, investors, the Government and the BoG had helped restore compliance across the sector.

Dr Asiama said all 23 banks operating in the country had met regulatory capital requirements, following capital restoration efforts after the economic crisis and financial asset impairments associated with the Domestic Debt Exchange Programme (DDEP).