GCB Bank has regained its position as Ghana’s largest deposit-taking bank, surpassing Ecobank Ghana in 2025. GCB’s share of industry deposits reached 12.37% in 2025, according to the PwC Ghana Banking Survey 2026.
This significant shift saw Ecobank Ghana, which held the top spot in 2024 with 14.33% of the market, drop to 10.52% in 2025. GCB’s rise to the top places it ahead of both Ecobank and Stanbic Bank Ghana, which ranked third with a 7.80% share. The PwC survey highlights a dynamic competitive landscape within Ghana's banking sector.
This change in ranking reflects broader trends in Ghana’s financial landscape, where banks are intensely competing for customer funds. The overall banking industry saw a substantial 25% increase in deposits in 2025, growing from GHS 266.5 billion to GHS 334.3 billion. This growth signals improved macroeconomic stability and stronger customer confidence across the nation. It also shows the effectiveness of expanded branch networks and digital banking services.
The PwC Ghana Banking Survey 2026 provides a comprehensive overview of the sector's performance. It notes that the increase in time and call deposits was partly due to customers responding to attractive fixed-term investment products. This suggests a strategic shift by banks to offer more competitive savings options. The survey also points to increased transaction banking activity, evidenced by a 15.8% rise in current account balances.
The banking sector’s robust deposit growth underscores its resilience and adaptability. Banks are leveraging various strategies, including digital innovation and branch expansion, to attract and retain customers. This competitive environment ultimately benefits consumers through more diverse and accessible banking services. The focus on deposit mobilisation is crucial for banks to strengthen their liquidity and support lending activities.
Despite increased competition, the deposit market remains highly concentrated among a few major players. GCB, Ecobank, and Stanbic together accounted for approximately 30.7% of total industry deposits in 2025. These three banks benefit from extensive branch networks and established retail and corporate banking operations. Their strong digital banking platforms further enhance their market presence and customer reach.
GCB’s 12.37% share translates to an estimated GHS 41.3 billion of the industry’s total GHS 334.3 billion deposits. Ecobank’s 10.52% represents approximately GHS 35.2 billion. These figures highlight the substantial financial resources managed by these leading institutions. They also show the scale of competition for customer funds, which are vital for banks to expand their customer bases and support various financial services.
Beyond the top three, other banks also recorded significant gains in market share. OmniBSIC Bank (OBL) notably improved its share from 3.15% in 2024 to 6.02% in 2025. This propelled OBL from 13th to fifth position, a performance attributed to focused customer acquisition and growth in retail and SME deposits. Zenith Bank Ghana (ZBL) also saw its market share increase from 5.91% to 6.27%, supported by targeted deposit mobilisation and digital banking initiatives. First Atlantic Bank (FABL) improved its share from 4.36% to 4.98%, linked to customer retention and enhanced business banking offerings. These movements indicate a dynamic and evolving banking landscape in Ghana.
The implications of these shifts are far-reaching for Ghana’s financial sector. GCB’s return to the top spot signals its strong strategic execution and customer confidence. Other banks will likely intensify their efforts to attract deposits, potentially leading to more innovative products and services. Regulators will closely monitor market concentration and competition to ensure a healthy and stable banking environment. Investors will watch these trends for insights into bank performance and overall economic health. This competitive drive will continue to shape the future of banking in Ghana.