- UBA Ghana Secures Fitch Ratings Upgrade as Asset Quality, Profitability and Capital Strength Improve
Fitch Ratings has upgraded the Long-Term Issuer Default Rating (IDR) of United Bank for Africa Ghana Ltd to ‘B’ from ‘B-’, with a Positive Outlook, reflecting the Bank’s improved financial strength, resilient performance, and strong market fundamentals.
The international ratings agency also upgraded the Bank’s Viability Rating (VR) to ‘B’ from ‘B-’, citing UBA Ghana’s strong profitability, robust capital buffers, improved asset quality, and sound liquidity position. The upgrade follows Fitch’s recent upgrade of Ghana’s sovereign rating and highlights the strong correlation between UBA Ghana’s credit profile and the improving Ghanaian operating environment.
This upgrade follows Fitch’s recent upgrade of Ghana’s sovereign rating and reflects the close link between the bank’s credit profile and the broader recovery in Ghana’s macroeconomic environment.
According to Fitch, Ghana’s economy is showing positive momentum, with real gross domestic product projected to grow by 5 per cent in 2026, while inflation has declined sharply to 3.4 per cent in April 2026, from an average of 22.9 per cent in 2024.
The ratings agency also noted that high interest rates continue to support banking sector profitability, while capital adequacy across the industry remains strong.
For UBA Ghana, the most striking improvement came from asset quality. The bank’s non-performing loan ratio fell sharply to 2.1 per cent at the end of 2025, from 12.5 per cent in 2024, reflecting recoveries and more disciplined risk management.
Fitch also highlighted UBA Ghana’s strong capitalisation, with a total capital adequacy ratio of 22.7 per cent as of the end of the first quarter of 2026. This remains significantly above the regulatory minimum and provides the bank with substantial buffers to support growth and absorb potential shocks.
Commenting on the upgrade, UBA Ghana’s Managing Director and Chief Executive Officer, Bernard Gyebi, described the ratings action as a validation of the bank’s strategy, governance and operational discipline.
“This upgrade by Fitch Ratings is a strong endorsement of the resilience of UBA Ghana, the discipline of our risk management framework, and the commitment of our staff to delivering sustainable value to customers and stakeholders. The Positive Outlook reflects growing confidence in our business model, governance standards, and long-term growth strategy,” he said.
Mr Gyebi said the bank would continue to deepen its focus on digital transformation, customer experience, trade finance and financial inclusion, while maintaining prudent risk management standards.
“At UBA Ghana, we remain focused on building a strong, sustainable and future-ready bank. We will continue to leverage the strength of the UBA Group’s pan-African network, technology capabilities, build strong partnerships, and customer-centric approach to drive growth and support economic development in Ghana and across Africa,” he added.
Fitch also acknowledged the strategic advantages UBA Ghana derives from its parent company, United Bank for Africa Plc. These include the ability to participate in large transactions, support cross-border business opportunities and leverage the strength of the UBA brand across Africa and global markets.
The parent-bank advantage is particularly important at a time when corporate clients are increasingly seeking banks with regional reach, trade finance capacity and stronger balance sheets to support cross-border transactions.
Juliana Asare, Chief Finance Officer of UBA Ghana, said the upgrade reflects the bank’s disciplined financial management and resilience despite the challenging operating conditions of recent years.
“The Fitch upgrade underscores the strength of our balance sheet, disciplined capital management, and the quality of our earnings. Despite market challenges in recent years, UBA Ghana has remained focused on prudent risk management, liquidity preservation, and sustainable profitability. This recognition reinforces stakeholder confidence in the Bank’s long-term financial stability and growth trajectory,” she stated.
She added that UBA Ghana would continue to leverage the group’s balance sheet to support large transactions while meeting customer needs and delivering stronger value.
The upgrade comes at a time when Ghana’s banking sector is gradually recovering from the combined effects of the domestic debt restructuring, elevated inflation, currency volatility and higher credit risk.
For UBA Ghana, the improved rating could strengthen market confidence among customers, investors, regulators and business partners. It also positions the bank more favourably as competition intensifies in corporate banking, digital financial services, trade facilitation and pan-African banking solutions.
The sharp decline in non-performing loans will be particularly important to market watchers, given concerns in recent years over asset quality across the banking industry. A non-performing loan ratio of 2.1 per cent places UBA Ghana in a stronger risk position and reinforces the bank’s claim of disciplined credit management.
The Positive Outlook also suggests that further improvement is possible if the bank sustains profitability, preserves capital strength and benefits from continued stabilisation in Ghana’s operating environment.
UBA Ghana said it remains focused on innovation, digital banking, trade facilitation and customer-focused financial solutions as it strengthens its position as one of the country’s leading pan-African banks.
For the bank, the Fitch upgrade is more than a technical ratings action. It is a market signal that asset quality has improved, capital remains strong and profitability is being sustained — all at a time when confidence and credibility are becoming central to competition in Ghana’s financial services sector.
