Ghana’s banking sector continues to demonstrate robust growth, with the country’s largest banks significantly influencing the nation’s economic stability. According to a recent PwC Ghana Banking Survey Report, total industry deposits reached GHS334.3 billion in 2025, representing a substantial increase of 25% from 2024 levels. This surge is attributable to a confluence of factors, including eased inflation, a stabilizing exchange rate, a strengthened economic outlook, and improved fiscal policies. The report highlights a shift in deposit market share, with GCB, OBL, and SBG collectively capturing approximately 30.7% of the total industry deposits. These institutions are strategically positioned through extensive physical networks, established retail and corporate banking franchises, and growing digital capabilities – a crucial component of their competitive advantage. However, the landscape is not solely dominated by these giants; several mid-sized banks, notably OBL, have demonstrated notable improvements, increasing their market share significantly. Specifically, OBL moved from 13th to 5th position, with a 6.0% share increase, reflecting a renewed focus on customer retention and strengthening its business banking offerings. Furthermore, Zenith Bank, Stanbic Bank, and OmniBSIC Bank have also contributed to the upward trend. The growth in deposits is driven by broad sectoral activity, with strong contributions from time deposits, which continue to reflect customer preferences for fixed-term savings and investment products, alongside increased investment in debt securities. The increased transaction volumes associated with these deposits contribute to a healthy balance sheet and sustained profitability across the sector. Asset growth has been bolstered by continued deposit mobilization, increased investment in debt securities, and expansion within lending activities, demonstrating the sector’s resilience.
Notably, the report indicates a widening of the banking sector’s concentration, with GCB, EBG, and SBG maintaining a substantial lead. Their established presence, encompassing extensive physical networks, robust retail and corporate banking franchises, and a significant digital footprint, solidifies their position as key players. The report also underscores the role of the Bank of Ghana’s regulatory framework, which is evolving to enhance financial stability and ensure responsible lending practices. The sector’s performance is contingent upon effectively managing credit risk, controlling costs, diversifying revenue streams, and adapting to the evolving macroeconomic environment. The PwC survey suggests that banks will need to strengthen capital, liquidity, risk management and recovery planning while proactively managing their operations to ensure long-term sustainability. The report also emphasizes the importance of investing in technology, improving service delivery, and fostering a more adaptable business model to meet future challenges and capitalize on emerging opportunities.”
This data reveals a dynamic banking sector, driven by a sustained increase in deposits, strategic positioning of established institutions, and the growing influence of mid-sized banks. The sector’s composition is shaped by a complex interplay of factors, demanding careful attention from regulators and industry participants.
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