Ghana’s financial sector recorded significant growth and improved resilience in 2025, with total sector assets expanding by 23.2 per cent to GH¢647.25 billion.

This is equivalent to 45.1 per cent of the country’s Gross Domestic Product (GDP).

The Second Deputy Governor, Mrs Matilda Asante-Asiedu, disclosed on Friday during the launch of the maiden Financial Stability Review (FSR), an annual publication of the Financial Stability Advisory Council (FSAC), in Accra.

She said the report assessed developments within Ghana’s financial system and highlighted measures implemented to mitigate emerging risks to financial stability.

She explained that the publication was a collaborative effort involving all financial sector regulators under the FSAC, rather than the central bank alone.

“Our theme for this year is ‘From Stress to Stability: Staying on Course.’ It reflects how the financial sector has navigated the twin stresses of macroeconomic shocks and debt restructuring risks over the past few years to the current state of stability we are beginning to enjoy,” she stated.

Mrs Asante-Asiedu said despite the progress made, new risks were beginning to emerge, compelling financial institutions to reassess their business models to adapt to changing economic conditions and preserve stability.

The Second Deputy Governor noted that the latest edition of the report differed from previous publications in two key areas.

According to her, the report captured initiatives undertaken by the FSAC to promote financial stability and deepen financial sector development, while the chapter on resilience assessment had been updated to include results of a systemic risk survey.

“This provides additional insights into how we are ensuring resilience within the financial ecosystem,” he added.

She said the sector’s resilience had been strengthened by strong profitability and solvency positions across all four financial industry segments.

The Second Deputy Governor further disclosed that the FSAC had implemented a framework for conglomerate supervision to strengthen oversight of financial groups operating across multiple sectors.

The framework, she explained, was intended to minimise regulatory arbitrage and provide regulators with a comprehensive view of the risks and capacity of financial entities operating in different sectors.

Touching on developments in digital finance, Mrs Asante-Asiedu said following the passage of the Virtual Asset Service Providers Act, 2025 (Act 1154), the Council had tasked its Technical Committee to develop a risk matrix to monitor risks within the virtual asset space.

Mrs Asante-Asiedu stressed that the move was aimed at balancing innovation with financial stability considerations.

“As regulators, 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 stability,” she said.

The Second Deputy Governor expressed appreciation to members of the FSAC, technical committees, working groups and the secretariat for their contributions to the review and their efforts towards promoting financial system resilience.

She commended the Communications Department for supporting the publication of the report.