GCB Bank has emerged as Ghana's leading deposit holder, capturing 12.37% of the industry's total deposits in 2025. This development marks a significant shift in the banking landscape, as GCB Bank overtakes Ecobank Ghana, which saw its market share decline to 10.52%.
The latest PwC Ghana Banking Survey highlights this reshuffle, indicating a more fluid competitive environment. OmniBSIC Bank also made a notable ascent, moving from 13th position in 2024 to fifth in 2025 with a 6.00% market share. This rapid growth underscores the intense competition for customer funds across the sector.
These changes occur as Ghana's economy shows signs of recovery, influencing banks' strategies. Industry loans and advances surged by 23.40%, rising from GHS 85.1 billion in 2024 to GHS 105.1 billion in 2025. This expansion reflects improving economic conditions and declining lending rates, encouraging banks to increase private sector financing. The shift away from defensive balance-sheet strategies, common during periods of high interest rates, is now evident.
PwC attributes OmniBSIC Bank's impressive rise to focused customer acquisition strategies. The bank achieved stronger growth in retail and SME deposits, demonstrating how quickly competitive positions can change. Such gains often signal more aggressive pricing, improved digital channels, or better service delivery.
The implications of these shifts are far-reaching for Ghana's financial sector. Banks are increasingly competing for quality private-sector borrowers as Treasury yields decline. This intensifies the battle for small and medium-sized enterprises (SMEs), established corporates, and retail customers. Decision-makers and market participants will closely watch how these competitive dynamics affect lending rates and financial product innovation.
Deposits remain a crucial and stable funding source for banks. Institutions with strong retail, corporate, and SME franchises gain greater flexibility to lend competitively while protecting their profit margins. GCB Bank's leadership extends beyond deposits, as it also reinforced its position as Ghana's largest lender. Its share of industry loans increased from 15.40% in 2024 to 17.80% in 2025.
Ecobank Ghana maintained its second position in lending with a 14.20% share. Together, GCB Bank and Ecobank Ghana controlled 32.00% of the industry's loan book, up from 29.70% a year earlier. This concentration of lending power among a few large banks continues to shape the market.
The overall industry saw total operating assets expand significantly, growing from GHS 308.4 billion in 2024 to GHS 404.3 billion in 2025. This represents an increase of almost GHS 96 billion. GCB Bank retained the largest share of operating assets at 12.30%, followed by Ecobank Ghana at 10.80% and Stanbic Bank at 8.60%. OmniBSIC Bank's share of operating assets also rose from 2.80% to 5.10%, mirroring its deposit growth.
The composition of these expanded balance sheets reveals that liquid assets rose by 57.70% to GHS 169.7 billion. Treasury bill holdings approximately doubled to GHS 102.1 billion. Net loans and advances increased by 24.90% to GHS 92.1 billion. This indicates that banks remain highly liquid and still hold substantial exposure to government securities, even as private-sector lending accelerates. This strategy offers protection against credit risk and preserves liquidity, but it may become harder to sustain if Treasury yields continue to fall.
Other banks also strengthened their positions in the deposit market. Zenith Bank increased its deposit share from 5.90% to 6.30%, while First Atlantic Bank improved to 4.90%. These movements further reinforce the view that Ghana's deposit market is becoming more contested. The largest institutions still maintain considerable scale advantages, but smaller, agile players are making significant inroads. This dynamic environment promises continued evolution in Ghana's banking sector.