Ghana’s largest bank, GCB Bank, has successfully reclaimed its position as the dominant deposit-taking institution, surpassing Ecobank Ghana (EBG) in 2025, according to the PwC Ghana Banking Survey 2026. This significant shift places GCB at the top of the deposit market, a change from Ecobank’s previous dominance in 2024, where the bank held the largest share. The PwC survey provides a detailed overview of the evolving banking sector in Ghana, highlighting key trends and performance indicators. Specifically, the report reveals a substantial rise in industry deposits, increasing by 25% from GH¢266.5 billion to GH¢334.3 billion between 2025 and 2026. This growth is attributed to improved macroeconomic stability, stronger customer confidence fueled by expanded branch and agency networks, and the continued expansion of digital banking services offered by the sector. GCB’s 2025 share of industry deposits reached 12.37 per cent, up from 10.86 per cent in 2023, though slightly below the 12.99 per cent recorded in 2024. Ecobank’s share decreased to 10.52 per cent, reflecting a strategic shift in market positioning. The survey also points to the increasing importance of deposit categories, with account balances increasing by 15.8% to GH¢184.9 billion and time deposits experiencing a particularly robust growth of 56.8% to GH¢49.2 billion, driven by attractive fixed-term investment products. The report emphasizes that the deposit market is intensely competitive, with a concentration of market share among the top five banks – GCB, Ecobank, Stanbic Bank Ghana, and the three major regional banks – collectively accounting for approximately 30.7% of total industry deposits in 2025. While the rate of growth has accelerated, the survey also highlights significant movement among other banks. OmniBSIC Bank, for instance, increased its deposit market share from 3.15% in 2024 to 6.02% in 2025, driven by focused customer acquisition and growth in retail and SME deposits. Zenith Bank Ghana also saw an increase, rising from 5.91% to 6.27% in 2025, linked to targeted deposit mobilization and digital banking initiatives. The increasing deposit activity across the sector underscores the importance of maintaining liquidity and supporting lending and other financial services, while also emphasizing the dynamic landscape of the banking industry. The PwC report also details substantial gains observed among other banks, including significant increases in OmniBSIC Bank’s share, Zenith Bank’s, and First Atlantic Bank’s market positions, demonstrating a shift in market share as established banks compete with smaller and mid-sized institutions for retail, corporate, and SME clients.”}”””””””””””””””””””””””””””””””
Watch Related Video
Source: MyJoyOnline
