Foreign-controlled banks accounted for 71.10% of all secured credit registered by commercial banks in Ghana during the second quarter of 2026. These institutions registered GHS 14.12 billion in secured credit, maintaining their significant market share.
This dominance occurred even as locally owned lenders recorded substantially faster growth in their secured credit portfolios. The figures highlight an expanding credit market that remains heavily concentrated among larger, better-capitalised banking institutions.
The continued control by foreign banks reflects their scale and ability to underwrite larger transactions within Ghana's financial system. This trend is consistent with historical patterns where international financial institutions often have greater access to capital and broader risk management capabilities. The Bank of Ghana's Collateral Registry data provides crucial insights into these market dynamics, showing a deepening credit market alongside persistent concentration.
Data from the Bank of Ghana’s Collateral Registry shows banks registered GHS 19.86 billion in secured credit during the quarter. Foreign-controlled institutions were responsible for GHS 14.12 billion, while Ghanaian-owned banks contributed GHS 5.74 billion. This indicates a structural gap between domestic and foreign-controlled institutions, despite efforts to bolster local capacity.
The dominance of foreign-controlled banks means that a significant portion of high-value lending decisions and capital allocation rests outside direct local control. This could influence the types of projects financed and the overall direction of economic development. Policymakers will closely monitor these trends to ensure equitable access to credit and foster the growth of indigenous financial institutions.
Foreign-controlled banks increased their registered secured lending by 19.30% from GHS 11.84 billion in Q2 2025 to GHS 14.12 billion in Q2 2026. In contrast, indigenous banks more than doubled their contribution, rising 112.40% from GHS 2.70 billion to GHS 5.74 billion over the same period. This strong year-on-year increase by Ghanaian-owned banks, while impressive, was not enough to dislodge the market leaders.
The broader secured credit market also expanded sharply, with total registered secured credit reaching GHS 31.48 billion in Q2 2026. This represents a 73.40% increase from GHS 18.15 billion a year earlier and a 57.50% rise from the GHS 19.98 billion recorded in the first quarter. Banks were the principal driver, accounting for 63.10% of all secured credit value registered with the Collateral Registry.
This concentration suggests that the recent acceleration in lending is not distributed evenly across all financial institutions. While Savings and Loans companies, Rural and Community Banks, and microfinance institutions remain important by transaction volume, the largest credit values overwhelmingly pass through commercial banks. The secured lending market is becoming deeper financially but remains institutionally concentrated.
The composition of borrowers further explains why bank balance-sheet strength matters. Large enterprises received GHS 13.76 billion, equivalent to 43.90% of all registered secured credit in Q2. Small and Medium-sized Enterprises (SMEs) received GHS 3.85 billion, or 12.20%. The dominance of large enterprises means banks capable of writing bigger tickets and absorbing greater single-obligor exposures are more likely to capture a disproportionate share of total lending value.
Sectoral concentration is equally important. Construction attracted GHS 9.89 billion, or 31.40% of all secured credit. Commerce and finance received GHS 8.10 billion, and services received GHS 4.36 billion. Construction lending alone rose 900.10% year on year, making it one of the principal drivers of the expansion in registered credit values. This pattern favours lenders with the capital base, liquidity, and risk-management capacity to finance large infrastructure, commercial property, and corporate transactions.
Foreign-controlled banks often operate with access to broader group resources, international funding relationships, and more diversified balance sheets. These factors can support larger secured facilities. The Collateral Registry data does not identify individual banks or explain the causes of the ownership gap. However, the concentration is consistent with a market where size and funding depth shape lending capacity. The geographic distribution of credit further reinforces this theme. Greater Accra accounted for GHS 24.50 billion, or 77.80%, of the total value of secured credit registered during the quarter, compared with GHS 3.40 billion for Ashanti.