The Governor was speaking at the maiden post-Monetary Policy Committee (MPC) meeting with the Chief Executive of Officers of banks in Accra.
He said these engagements with the CEOs were central to ensuring a mutual understanding of policy direction and alignment in the collective efforts to foster macroeconomic stability and recovery.

The Committee raised the policy rate by 100 basis points to 28 per cent and the decision was aimed at reinforcing the disinflation process, which, while underway, remains too gradual to secure lasting stability.

The Governor said the country would continue to witness broad-based improvement in financial stability, though “we remain keenly aware that persistent challenges require our continued and focused efforts.” He said the recent gains in macroeconomic stability following the DDEP, the improved profitability of banks amid the structural high liquidity and continuing recapitalization were improving the soundness in the banking sector.

“Even without reliefs, the Banking Sector Soundness Indicator (BSSI) showed sustained improvement on the back of improving solvency and asset quality measures amid strong liquidity and profitability,” he added

He said the sector continued to experience strong asset growth, expanding by 34.05 per cent year-on-year at end-February 2025 funded primarily by deposits, which also grew by 27.89 per cent.
He said the industry remained solvent, recording a Capital Adequacy Ratio of 14.35 per cent, above the regulatory minimum of 10 per cent, with most banks maintaining capital adequacy ratios above thresholds.

Dr Asiama said, nonetheless, solvency concerns persisted for a few domestically controlled and state-owned banks, where recapitalization efforts remained unclear and addressing the capital shortfalls in these banks was a priority.

“We are working closely with the affected institutions to achieve sustainable capital levels, restore depositor confidence and ensure compliance with regulatory requirements,” he said.

He said to address rising credit risks, “we urge all banks to strengthen their risk management frameworks, improving underwriting, early warning systems, and provisioning practices.”
He said the central bank expected tangible improvements in loan origination, monitoring, and credit review.

He encouraged strategic partnerships, digital transformation, and product innovation, while the Bank of Ghana deepened its engagement with non-bank financial service providers to ensure innovation within a stable, well-supervised ecosystem that supported financial inclusion and protected consumers.