Our risk strategy shielded us from DDEP shocks – First Bank Ghana MD

First Bank Ghana’s MD, Victor Yaw Asante, has explained how the bank successfully navigated Ghana’s Domestic Debt Exchange Programme (DDEP) without major setbacks.

Speaking on Joy News’ PM Express Business Edition, he attributed the bank’s stability to its strict risk management strategy, which limited exposure to government bonds.

Unlike many banks that faced liquidity challenges due to heavy investment in government securities, First Bank Ghana resisted the temptation to over-rely on them.

Asante acknowledged that while the financial sector initially struggled under DDEP, some banks have since written back previously withheld assets, improving their reported performance. However, he cautioned that such recoveries do not reflect core financial strength.

He emphasized prudent financial management, urging banks to focus on sustainable operations rather than relying on extraordinary gains.