BoG Grows Total Asset Base to GHS 215.06 Billion in 2024
The Bank of Ghana (BoG) grew its total asset base by GHS 74.6 billion year-on-year to close 2024 with total assets of GHS 215.06 billion, up from GHS 140.41 billion recorded in 2023.
The increment in total assets reflects the central bank’s expanding balance sheet, largely influenced by monetary policy operations, financial sector interventions, and ongoing economic recovery efforts.
Also notable in the 2024 financial statements is a GHS 4.02 billion improvement in the Bank’s negative equity position. The BoG reduced its negative equity from GHS 65.34 billion in 2023 to GHS 61.32 billion by end-2024, signaling modest gains in the Bank’s financial stabilization agenda.
Despite this development, the central bank reported an operating loss of GHS 9.49 billion for the year under review, a reduction from the GHS 13.23 billion loss posted in 2023.
The Bank attributed the 2024 operating loss to total operating income of GHS 9.40 billion, which was insufficient to offset total operating expenses of GHS 18.89 billion.
“The operating loss was mainly driven by interest expense on monetary policy instruments and exchange rate-related losses,” the BoG noted in the published financial statement.
While the central bank’s sustained losses remain a concern for fiscal observers, the marginal recovery in its equity position has been welcomed as a step toward restoring financial soundness and credibility.
The audited financial statements, published in fulfillment of the Bank’s statutory obligations, come on the back of increased calls for transparency following public backlash over its loss-making position in recent years.
