Financial sector assets surge to GH¢647bn amid economic recovery
Financial sector assets expanded by 23.2 per cent in 2025 to reach GH¢647.25 billion, reflecting improved macroeconomic conditions and renewed resilience within the industry.
The sector’s total assets now account for 45.1 per cent of the country’s Gross Domestic Product (GDP), highlighting the growing contribution of banks, insurance firms, pension funds and other financial institutions to national economic activity.
The growth in financial sector assets is expected to strengthen the capacity of financial institutions to support businesses, provide credit to households and improve access to financial services, which could ultimately boost economic growth and job creation for citizens.
Speaking at the launch of the maiden Financial Stability Review in Accra last Friday, the Second Deputy Governor of the Bank of Ghana (BoG), Matilda Asante-Asiedu, stated that the financial sector recorded stronger profitability and solvency across all four financial industries despite the economic shocks and debt restructuring challenges experienced in recent years.
“On the back of the improved macroeconomic gains in 2025, Ghana’s financial sector experienced growth and resilience in the year,” she said.
The review
The Financial Stability Review has been introduced as an annual publication to assess developments within the financial system and highlight measures implemented to address emerging risks to stability.
The report was prepared collaboratively by members of the Financial Stability Advisory Council, comprising regulators across the financial services sector, to strengthen coordination and oversight within the industry.
This year’s review introduced updated assessments on the resilience of the financial sector, including the results of a systemic risk survey aimed at improving risk monitoring and policy responses.
Safeguard stability
Mrs Asante-Asiedu, who represented the Governor, stated that the review highlighted several initiatives undertaken by the Financial Stability Advisory Council to strengthen the financial sector and safeguard stability within the economy.
She explained that regulators had implemented a framework for conglomerate supervision to improve oversight of financial groups operating across multiple sectors and minimise regulatory arbitrage within the industry.
The Second Deputy Governor said the council had also tasked a technical committee to develop a risk matrix for monitoring activities within the virtual asset space following the passage of the Virtual Asset Services Providers Act, 2025 (Act 1154).
She stated that the measures were intended to ensure that innovation within the financial sector was balanced with strong risk management and financial stability considerations.
“Our theme for this year, ‘From Stress to Stability: Staying on Course,’ reflects the resolve of financial sector regulators to sustain stability over the medium to long term despite emerging risks in the outlook,” Mrs Asante-Asiedu said.
Extensive collaboration
The Head of the Financial Stability Council’s Secretariat, Dr John Kwame Dadzie, stated that the financial stability review was developed through extensive collaboration among institutions represented on the council.
He explained that the report underwent several stages of review, beginning with draft contributions from member institutions before further assessment by the FSC Secretariat and an interagency review committee.
He stressed that the multi-layered review process was intended to ensure the accuracy, reliability and credibility of the data and analysis contained in the report.
Dr Dadzie commended the drafting teams, review committees and the communications department of BoG for their contributions towards the successful publication of the maiden review.
“The coordinated review ensured relevance of context, reliability of the data used and consistency in style, which are central to the credibility of the report,” he said.
