UMB Bank Fully Restored as Government Completes Recapitalisation Drive

The Finance Ministry has announced that UMB Bank has been fully restored to financial strength following the successful completion of its recapitalisation, positioning the indigenous lender to expand lending and support economic activity.

Presenting the 2026 Mid-Year Budget Review in Parliament, Finance Minister Dr. Cassiel Ato Forson disclosed that the Ghana Amalgamated Trust (GAT) had completed the bank’s recapitalisation, bringing it back to full regulatory capital requirements. He added that Prudential Bank had also been fully recapitalised through a private sector-led arrangement, strengthening confidence in Ghana’s domestic banking industry.

According to the Finance Minister, the successful recapitalisation underscores the government’s broader strategy to reinforce financial sector stability after the challenges that followed the country’s domestic debt restructuring.

“UMB and Prudential Bank today stand fully capitalised and primed for business,” Dr. Forson told Parliament, encouraging individuals, businesses and institutions to transact with the two banks as they resume a stronger role in financing economic growth.

The announcement follows earlier interventions by the government to restore confidence in the banking industry, including the recapitalisation of the National Investment Bank, Agricultural Development Bank and Consolidated Bank Ghana in 2025. The measures form part of a wider financial sector recovery programme aimed at ensuring banks remain well-capitalised, resilient and capable of supporting private-sector expansion.

The Finance Ministry also reaffirmed its commitment to rebuilding the balance sheet of the Bank of Ghana, which was weakened by losses arising from the 2023 Domestic Debt Exchange Programme. Government has already issued a GH¢5 billion recapitalisation bond and plans to continue phased support in line with the Bank of Ghana (Amendment) Act, 2025.

The latest developments are expected to strengthen confidence in Ghana’s banking system, improve credit intermediation and enhance the sector’s capacity to finance businesses as the economy continues its recovery.