Ghana’s banking sector recorded a substantial 25% increase in customer deposits, reaching GHS 334.3 billion in 2025. This significant growth, reported by the PwC Ghana Banking Survey 2026, marks a rise from GHS 266.5 billion in 2024.
The survey attributes this surge to improved macroeconomic stability and stronger customer confidence. Banks expanded their branch and agency networks, alongside continued adoption of digital banking services. This growth provides banks with a larger pool of funds to support lending, investment, and other financial activities.
This deposit growth signals a strengthening funding base for Ghana’s banking sector. It follows a period of significant macroeconomic and financial-sector pressures. The Bank of Ghana has consistently worked to ensure stability, which underpins this renewed confidence. The country's economic recovery efforts, including fiscal consolidation, have played a crucial role. This trend reflects a positive shift in public perception towards the formal banking system.
The PwC Ghana Banking Survey 2026 specifically highlighted the drivers of this growth. It noted that current account deposits increased by 15.8% to GHS 184.9 billion. This rise indicates increased transaction banking activity across the economy. Time deposits showed the strongest growth, surging by 56.8% to GHS 49.2 billion. Call deposits also grew significantly, increasing by 37.5% to GHS 16.7 billion. These sharp increases in time and call deposits reflect customers’ response to attractive fixed-term investment products offered by banks.
Despite the broad-based growth, deposits remain concentrated among the leading banks. GCB Bank, Ecobank Ghana (EBG), and Stanbic Bank Ghana (SBG) collectively held 30.7% of total industry deposits in 2025. GCB Bank led with 12.37%, followed by Ecobank Ghana at 10.52%, and Stanbic Bank Ghana with 7.80%. This concentration underscores the continued dominance of large banks with extensive networks and established customer bases. These institutions also benefit from increasingly developed digital banking platforms.
The survey also noted significant movements among individual banks. OmniBSIC Bank (OBL) notably improved its deposit market share, moving from 13th position in 2024 to fifth in 2025. It achieved a 6.0% share, attributed to focused customer acquisition strategies. Zenith Bank Ghana (ZBL) also strengthened its position, increasing its market share from 5.9% to 6.3%. First Atlantic Bank (FABL) saw its share rise to 4.9%, driven by customer retention and enhanced business banking offerings.
This deposit growth points to a more robust funding environment for Ghanaian banks. It suggests that customers are increasingly willing to commit funds for fixed periods, responding to better investment returns. The continued growth in current accounts indicates sustained demand for everyday transaction-based banking services. The market remains competitive, even with the concentration among larger institutions. Banks outside the top tier must focus on customer acquisition, retention, and expanding digital services. They also need to develop products that attract both retail and business customers to compete effectively. This trend will likely encourage further innovation and competition across the sector.