Ghana: BoG considers deadline extension for undercapitalised bank

The Bank of Ghana (BoG) is weighing the possibility of extending the recapitalisation deadline for one of the two banks currently struggling to meet minimum capital requirements, according to Governor Dr Johnson Pandit Asiama.

Speaking at the 129th Monetary Policy Committee (MPC) press briefing on March 18, 2026, Asiama said the central bank is adopting a cautious and evidence-based approach, taking into account the progress made by the affected institutions.

“Out of the two banks, one is making significant progress towards meeting the recapitalisation requirements, and we may consider granting that institution an extension,” he noted.

The governor emphasised that any extension would be carefully calibrated to support viable institutions without compromising overall financial system stability.

“Our objective is to ensure the recapitalisation process is completed successfully while safeguarding the integrity of the banking sector,” he added.

On the second bank, Asiama said efforts are ongoing but acknowledged that the institution remains at an earlier stage in its recovery process and may require closer regulatory oversight.

“The other bank is also making progress, but at a different pace. We will continue to monitor developments and engage accordingly,” he said.

He further stressed that any regulatory concession would be strictly conditional, based on demonstrable progress and a firm commitment to meeting capital thresholds.

The recapitalisation exercise forms part of BoG’s broader reform agenda aimed at strengthening the resilience of the banking sector, enhancing risk management, and protecting depositors’ funds.