UBA 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.

According to Fitch, Ghana’s economy continues to show positive momentum, with projected real GDP growth of 5% in 2026 and inflation declining significantly to 3.4% in April 2026 from an average of 22.9% in 2024. The report further noted that high interest rates continue to support banking sector profitability, while capital adequacy across the industry remains strong.

UBA Ghana’s asset quality recorded a major improvement, with its Non-Performing Loan (NPL) ratio declining sharply to 2.1% at the end of 2025 from 12.5% in 2024, largely driven by recoveries and disciplined risk management practices.

Fitch also highlighted the Bank’s strong capitalization, with a Total Capital Adequacy Ratio (CAR) of 22.7% as at end of first quarter 2026, significantly above the regulatory minimum requirement, providing substantial buffers to support growth and absorb potential shocks.

Commenting on the upgrade, the Managing Director and Chief Executive Officer of UBA Ghana, Bernard Gyebi, described the development as a strong validation of the Bank’s strategic direction 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.

He added that 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,” Mr. Gyebi added.

Fitch further acknowledged the strategic advantages UBA Ghana derives from its parent company, United Bank for Africa Plc, including 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.

Juliana Asare, Chief Finance Officer of UBA Ghana, said the upgrade reflects the Bank’s disciplined financial management and resilience amid a challenging operating environment. She further noted that UBA Ghana will continue to leverage the Group’s balance sheet for big transactions, while supporting the needs of customers and deliver exceptional value.

“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.

UBA Ghana continues to strengthen its position as one of the country’s leading pan-African banks through innovation, digital banking, trade facilitation, and customer-focused financial solutions.

The Bank said the latest rating action reinforces confidence among customers, investors, regulators, and business partners, while positioning UBA Ghana strongly for sustainable growth in the evolving financial services landscape.

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