The Ghana Association of Banks president, Kwamina Asomaning, has stressed the urgent need for banks to reinforce ethical standards in the industry.

Speaking on Joy News’ PM Express Business Edition on Thursday, March 20, the Managing Director of Stanbic Bank Ghana passionately called for continuous ethics training and sensitisation, warning that the temptations within the banking sector are too numerous for complacency.

“What we sell as banks is trust, and it's embarrassing, and it's a big shame when we breach the trust of our customers, our employers, and our shareholders to put our hands in the cookie jar effectively,” Mr Asomaning stated.

He stressed that ethical lapses not only damage individual institutions but also erode public confidence in the entire financial sector.

He acknowledged that the environment within which banks operate exposes employees to significant moral tests.

“You know there’s a biblical saying that the love of money is the root of all evil, and we’re right in the midst of money. So you can imagine that it brings out the very worst in people.

"And unfortunately, we’re finding that some of our colleagues are unable to control themselves when they see these vast sums,” he lamented.

To address this, Kwamina Asomaning called for a heightened industry-wide focus on ethics training.

He revealed that collaborative efforts with the National Banking College and the Chartered Institute of Bankers are already in motion to instil greater ethical discipline among banking professionals.

“In fact, I engaged with the Chartered Institute of Bankers a few days ago, and they have a module that they’re offering free of charge to banks to provide ethics training to all staff. And it should be made mandatory,” he said firmly.

While many banks already have internal ethics programs, Mr Asomaning believes more must be done.

“Ethics is an area where you cannot have too much of because the temptations you face daily, the pressures you’re facing from customers and other parties—some people, from family members—is excessive. And so being reminded of the need to constantly maintain that high line is extremely important.”

His remarks come at a time when concerns over financial misconduct and ethical breaches in Ghana’s banking sector have become more pronounced.

Kwamina Asomaning urged banks to remain vigilant and proactive, reinforcing ethical culture through training, leadership accountability, and a firm commitment to integrity.

As the banking industry continues to recover from recent economic shocks, his message serves as a stark reminder that financial stability is not only about strong balance sheets but also about maintaining public trust through unwavering ethical standards.