According to the research report, GCB Bank and Ecobank Ghana continue to dominate the sector, controlling almost a quarter of the industry’s deposits.
ADVERTISEMENT
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
Recommended articles
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.
ADVERTISEMENT
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.
ADVERTISEMENT
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.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.com.gh
Recommended articles
Fuel prices expected to stay below GH¢18 - CBOD assures consumers
Rebecca Osam weighs in: Idea vs. Capital - Which holds the key to business success?
10 African countries with the lowest inflation rates in 2024
Towering Heat: Exploring the efficiency of vertical radiators in heating large rooms
Anansi Green Energy to deliver green electricity to Ghanaians through a new renewable energy platform
Ghana will record single-digit inflation rate of 8% in 2025 — IMF predicts
Riding the wave of Bitcoin innovation this halving season
Where are the 5 wealthiest cities in Africa located?
