Ghana banking profits fall to GH¢9.2bn amid low interest rates

Ghana's banking sector recorded GH¢9.2 billion in after-tax profits for the eight months leading to August 2026, representing a 5.7% decline compared to the same period in 2025. This contraction follows a period of significant growth, with profit-before-tax also shrinking by 5.7% year-on-year. The decline is largely attributed to a 4.2% drop in net interest income caused by a low-interest-rate environment, which narrowed interest spreads from 7.9% to 5.9%.

Despite the drop in interest income, revenue from fees and commissions rose by 17.9%. The Bank of Ghana's October 2026 Banking Sector Development Report noted that the credit-to-GDP gap remains negative, suggesting the economy is in a low-risk credit environment without excessive credit build-up. While credit growth is currently weaker relative to the size of the economy, the central bank indicated there is room for measured credit expansion to support the real sector. Macro-financial risks have moderated due to lower inflation, exchange rate stability, and declining public debt.