Ecobank Ghana continued its place as the largest financial institution in Ghana in 2024 with a market share of 14.3%, in keeping with the 2025 Ghana Banking Sector Survey by PwC.
It was adopted by GCB Financial institution with a market share of 13.0% in 2024, from 10.9% in 2023.
In line with the report, the growth of the 2 banks highlights the excessive degree of belief these establishments get pleasure from amongst retail and company shoppers.
Their success in deposit mobilisation might be attributed to quite a lot of strategic initiatives. These included leveraging an in depth bodily department community, every working greater than 250 retailers nationwide, to enhance accessibility in each the city and rural areas.
Moreover, their sustained funding in digital banking infrastructure considerably enhanced comfort for shoppers, notably the youthful, tech-oriented demographic. Their rollout of focused financial savings and funding merchandise additional attracted shoppers resembling SMEs and salaried professionals in search of versatile and safe monetary options.
Normal Financial institution and Absa consolidated their standings because the third and fourth largest banks by whole deposits, increasing their mixed deposit base by GH₵6.9 billion.
Within the mid-tier class, banks resembling Zenith Financial institution, Consolidated Financial institution Ghana and First Atlantic Financial institution remained regular within the sixth, eighth, and tenth positions, respectively.
Entry Financial institution Ghana rose from ninth to seventh place, whereas GT Financial institution improved its standing from eleventh to ninth.
Conversely, Normal Chartered Financial institution dropped from seventh to eleventh, suggesting aggressive or operational headwinds.
General, the ten main banks captured over 50% of the trade’s whole deposits, affirming their affect in shaping sector dynamics.
Throughout deposit varieties, there was broad-based development: present accounts surged by 37.4%, financial savings accounts rose by 44.2%, and each certificates of deposit and name deposits confirmed marked will increase.
Deposits from different banks additionally elevated sharply by practically 50%, indicating an increase in interbank confidence and actions to help the brand new price to deposit ratio necessities.
Notably, time and glued deposits declined by 6.2%, seemingly pushed by altering rate of interest expectations and a rising desire for extra versatile monetary devices.
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DISCLAIMER: The Views, Feedback, Opinions, Contributions and Statements made by Readers and Contributors on this platform don’t essentially characterize the views or coverage of Multimedia Group Restricted.
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