Credit growth accelerated significantly during the review period, with gross loans and advances increasing by 39.4% year-on-year to GH¢124.3 billion as of the end of June 2026.

This is compared with 5.5% growth recorded at the end of June 2025.

According to the July 2026 Monetary Policy Report, the expansion in credit was driven primarily by stronger lending to the private sector, with credit extended to private enterprises and households rising by 39.6% to GH¢119.1 billion.

This is markedly higher than the 9.2% growth registered a year earlier.

Credit to the public sector also recovered, growing by 5.6% to GH¢4.7 billion at the end of June 2026, following a 31.3% contraction in the corresponding period of 2025.

As a result, the private sector's share of total credit increased to 96.2% from 95.1% a year earlier, while the public sector's share declined to 3.8% from 4.9%, underscoring the continued concentration of bank lending towards private sector activities.

Sectoral Allocation

The sectoral allocation of bank credit at the end of June 2026 remained concentrated in a few key sectors of the economy.

The services sector continued to account for the largest proportion of industry credit, representing 36.6% of total lending, although this was marginally lower than its share in the corresponding period of 2025.

The commerce and finance sector followed with a share of 24.1%, while the construction sector recorded a notable increase, accounting for 10.7% of total credit.

Collectively, these three sectors absorbed 71.4% of total industry lending, slightly below the 72.3% recorded for the leading sectors a year earlier, indicating a modest diversification in the sectoral distribution of credit.