Fitch Ratings estimates that six banks operating in Ghana are unlikely to achieve capital compliance through internal capital generation alone.

Therefore, they will need to seek capital injections, merge with or be acquired by better-capitalised banks, or be granted extended forbearance to allow time to retain sufficient earnings to comply.

It pointed out that two of the banks that remain undercapitalised are government-owned and have already received capital injections.

“We expect them to receive further capital support to achieve capital compliance, although this may not materialise before end-2025”, it added.

Meanwhile, the banking sector’s capital adequacy ratio excluding the benefit of forbearance was first disclosed by the Bank of Ghana at the end of February 2024, as 8.7%.

It increased to 18.2% at the end of the first-half of 2025.

This indicated that the vast majority of banks will be comfortably compliant when the remaining 25% of the losses incurred on cedi government bonds is phased into regulatory capital at end-2025.