UBA Ghana Ltd's Long-Term Issuer Default Rating (IDR) received an upgrade to 'B' from 'B-' by Fitch Ratings. The international ratings agency also assigned a Positive Outlook to the rating, reflecting the bank's strengthened financial position.
This upgrade stems from United Bank for Africa Ghana’s improved financial strength, resilient performance, and strong market fundamentals. Fitch also upgraded the bank's Viability Rating (VR) to 'B' from 'B-', citing robust capital buffers and a sound liquidity position. Improved asset quality also significantly contributed to the positive assessment.
The upgrade aligns with Fitch's recent upward revision of Ghana's sovereign rating, underscoring the strong link between UBA Ghana's performance and Ghana's improving economic climate. Ghana’s economy continues to show positive momentum. Real GDP growth is projected at 5% in 2026. Inflation significantly declined to 3.4% in April 2026 from an average of 22.9% in 2024. High interest rates continue to support banking sector profitability. Capital adequacy across the industry remains strong.
Bernard Gyebi, the Managing Director and Chief Executive Officer of UBA Ghana, commented on the upgrade. He described the development as a strong validation of the bank’s strategic direction and operational discipline. Mr. Gyebi stated, “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.” He added the Positive Outlook reflects growing confidence in the bank’s business model and long-term growth strategy.
UBA Ghana’s asset quality recorded a major improvement. Its Non-Performing Loan (NPL) ratio declined sharply to 2.1% at the end of 2025. This compares with 12.5% in 2024. Recoveries and disciplined risk management practices largely drove this improvement. Fitch also highlighted the bank’s strong capitalization. The Total Capital Adequacy Ratio (CAR) reached 22.7% as of the end of the first quarter 2026. This figure is significantly above the regulatory minimum requirement, providing substantial buffers for growth and absorbing potential shocks. The bank will continue to deepen its focus on digital transformation, customer experience, and financial inclusion.
This upgrade reinforces stakeholder confidence in UBA Ghana's long-term financial stability and growth trajectory. It positions the bank strongly for sustainable growth in Ghana's evolving financial services landscape. The increased rating may also attract more investments and facilitate new partnerships. It further solidifies UBA Ghana’s standing as a leading pan-African bank in the country.