GCB Bank and Ecobank Ghana control 23.9% of banking industry deposits - Report

Research analysis by investment firm Tesha Capital says GCB Bank and Ecobank Ghana control about 23.9% of the banking industry deposits in 2020.

GCB & Ecobank

According to the research report, GCB Bank and Ecobank Ghana continue to dominate the sector, controlling almost a quarter of the industry’s deposits.

The report noted that GCB Bank controlled about 11% in terms of deposits, while Ecobank Ghana led the pack with 12.4%.

The Tesha Capital research analysis explained further that what has helped the two leading banks in terms of deposit and growth is their operation of digital platforms to enhance customers' user experience and transactions.

Stanbic, Absa, Consolidated Bank Ghana, Fidelity and Standard Chartered Bank placed 3rd, 4th, 5th, 6th and 7th respectively.

On loans, Ecobank Ghana dominated the industry, controlling 10.4% of the assets last

Year.

Absa, Stanbic and GCB followed suit in 2nd, 3rd and 4th respectively.

The report stated that Zenith Bank Ghana is the number one bank in financial performance in 2020.

Standard Chartered Bank moved into the 2nd position, whilst Ecobank which was 2nd in 2019 and GCB Bank placed 3rd and 4th respectively.

On the contrary, FBN Ghana, UMB and Prudential Bank were the least ranked banks.

National Investment Bank and OmniBSIC were not captured in the report.

The rankings emanated from an assessment of the credit worthiness and performance of the banks using capital adequacy ratio, assets size, management capability, earnings and liquidity.

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