Ghana’s financial sector is showing stronger resilience, with total assets rising by 23.3 per cent to GHS647.25 billion in 2025, as the Bank of Ghana (BoG), sector regulator, tightens oversight of emerging risks.

The growth in assets, equivalent to about 45.1 per cent of the country’s Gross Domestic Product (GDP), came on the back of improved macroeconomic conditions, strong capital buffers and large holdings of government instruments by banks.

At the maiden launch of the annual Financial Stability Review by the Financial Stability Council (FSC), Matilda Asante Asiedu, Second Deputy Governor, said the strong performance in the sector in 2025 helped to restore confidence after years of stress.

Launched on the theme: “From stress to stability, staying on course,” the review report signals Ghana’s shift towards integrated supervision as regulators prepared to manage new risks while supporting growth in a post-restructuring environment.

For 2025, the review disclosed that profitability and solvency positions strengthening across all four financial industries – banking, insurance, securities, and pensions, bolstering resilience.

Mrs Asante Asiedu said the sector has moved “from stress to stability,” after navigating macroeconomic shocks and debt restructuring risks in recent years, reflecting the progress made and the resolve of regulators to stay on course.

“The theme reflects how the financial sector has navigated through the twin stresses of macroeconomic shocks and debt restructuring risks over the past few years to the current state of stability that we enjoy,” she said.

She stated that financial institutions have resorted to reassessing their business models to adapt to evolving conditions, aimed at avoiding any disruption to the stability that has started to take hold in the sector.

She mentioned several initiatives undertaken by the FSC to promote financial stability and deepen the sector, including the implementation of a framework for conglomerate supervision to strengthen oversight of financial groups with cross-sectoral activities.

Another key development was the establishment of a risk matrix for monitoring risks in the virtual asset services space, following the passage of the Virtual Asset Services Providers Act, 2025 (Act 154).

The new framework, Mrs Asante Asiedu, said had been designed to minimise regulatory arbitrage by allowing joint assessment of risks across banking, insurance, and capital market operations within a group.

“We will continue to collaborate under the auspices of the FSC to deepen policy coordination, sustain the development of the financial services sector and preserve the country’s financial starvation,” the Deputy Governor said.

Dr John Kwame Dadzie of the FSC Secretariat described the 2025 report as a collaborative model, indicating that it went through intense engagements process among member institutions across all financial sectors.

He said the initial chapters were drafted by representatives of member institutions, then reviewed by the FSC secretariat and an interagency committee with the final refinements made by council members to ensure data reliability and consistency.

Dr Dadzie said the coordinated review process was central to the credibility of the report, and expressed appreciation to the drafting teams, technical committees, and the communications department for their work on the publication.