Ghana’s banking sector continued to demonstrate strong performance in 2025, recording a 46.1% growth in profit-after-tax to GH¢9.7 billion for the first eight months of the year, up from GH¢6.7 billion during the same period in 2024.
According to the September 2025 Monetary Policy Report, the industry saw growth across all major income lines in August 2025, reflecting improved efficiency and a stronger operating environment.
The report indicated that other income surged by 47.3%, reversing a 2.9% contraction recorded a year earlier. Net interest income also rose by 21.8% to GH¢19.2 billion, compared to GH¢16.9 billion in August 2024.
On a year-on-year basis, interest income increased by 21.5% to GH¢29.3 billion, while interest expenses grew by 20.9% to GH¢10.2 billion, up from GH¢8.4 billion in 2024. The report attributed the growth in net interest income to a slowdown in interest expenses, driven by lower interbank lending rates compared to the previous year.
Net fees and commissions rose by 13.1% in August 2025, compared to a higher growth of 22.9% a year earlier. Meanwhile, “other income” recorded a strong rebound, climbing by 47.3% to GH¢4.8 million, compared to a decline of 2.9% in August 2024.
These factors contributed to a 28% rise in net operating income, significantly higher than the 10.9% growth recorded in the same period last year.
Operating expenses increased moderately by 19.5% in August 2025, up slightly from 18.9% in 2024. The rise was attributed mainly to marginal increases in staff and administrative costs.
Notably, provisions for depreciation, bad debts, and impairment losses declined sharply by 46.0%, compared to a 19.2% reduction in 2024. The decline reflected higher levels of write-offs and recoveries during the review period.
The banking sector’s key profitability indicators — Return on Equity (ROE) and Return on Assets (ROA) — both strengthened in 2025.
The ROE rose from 31.4% in August 2024 to 32.2% in August 2025, while the ROA improved from 4.9% to 5.6% over the same period.
The Bank of Ghana report attributed these gains to the robust growth in profit-before-tax and profit-after-tax, underscoring the sector’s resilience and recovery momentum amid evolving macroeconomic conditions.
