The government has encouraged individuals, businesses and institutions to transact with UMB Bank and Prudential Bank, announcing that both indigenous financial institutions have been fully recapitalised and are now well-positioned to support Ghana’s economic growth.
Presenting the 2026 Mid-Year Fiscal Policy Review in Parliament on Thursday, Minister for Finance Dr Cassiel Ato Forson described the successful recapitalisation of the two banks as a major milestone in strengthening the country’s financial sector.
According to the Finance Minister, the Ghana Amalgamated Trust (GAT) has completed the full recapitalisation of UMB Bank, while the government facilitated the full recapitalisation of Prudential Bank Limited through a private sector-led approach.
“The Ghana Amalgamated Trust (GAT) completed the full recapitalisation of UMB Bank. In addition, government facilitated the full recapitalisation of Prudential Bank Limited through a private sector-led approach,” Dr Forson told Parliament.
He said both banks are now financially strong and ready to expand lending and banking services to households, businesses and other institutions.
“UMB and Prudential Bank today stand fully capitalised and primed for business. We encourage individuals, businesses and institutions to take advantage of the revitalised UMB and Prudential Bank and bank with them,” he added.
Dr Forson explained that the recapitalisation forms part of the government’s broader strategy to reinforce the stability and resilience of Ghana’s banking sector following years of financial sector reforms.
He noted that a stronger banking industry is essential for mobilising savings, supporting businesses, creating jobs and driving long-term economic transformation.
The announcement was made as part of the 2026 Mid-Year Fiscal Policy Review, which highlighted the government’s progress in implementing economic reforms aimed at sustaining macroeconomic stability, strengthening the financial system and promoting inclusive economic growth.
Source: 3news
