Ecobank Ghana Retains Position as Largest Bank in Ghana with $228 Million Capital
Ecobank Ghana has maintained its status as Ghana’s largest bank by Tier-1 capital, reporting a capital base of $228 million at the end of 2024, according to The Banker’s Top 100 African Banks ranking for 2024.
Access Bank Ghana followed closely in second place with a capital of $216 million, while GCB Bank ranked third with $212 million. Standard Chartered Bank Ghana secured the fourth position with a Tier-1 capital of $168 million.
Ghana’s Banks in Africa’s Top 100
On a continental scale, Ecobank Ghana was ranked 88th among Africa’s top banks. Absa Bank Ghana, GCB Bank, and Standard Chartered Bank Ghana also made the list, ranking 92nd, 95th, and 100th, respectively.
The report highlights that Ghana’s leading banks have demonstrated resilience, maintaining strong capital positions despite economic headwinds and currency depreciation.
Resilience Amid Economic Challenges
The Banker’s report noted that Ghana’s top banks—Ecobank Ghana, GCB Bank, Standard Chartered Bank Ghana, and Absa Bank Ghana—have shown stability in navigating macroeconomic fluctuations and currency volatility.
Ecobank Ghana’s strategic focus on corporate and SME lending has bolstered its revenue streams despite the impact of currency depreciation. Similarly, Absa Bank Ghana has maintained a strong capital position while adapting to economic pressures. GCB Bank’s diversified portfolio and emphasis on digital banking have contributed to a stable balance sheet.
African Banking Trends
Across Africa, profitability among the continent’s top banks remains strong, with an aggregate pre-tax profit of 18.2%. However, local currency depreciation has affected balance sheets, with 52 institutions recording declines in asset bases and 41 experiencing reductions in Tier-1 capital.
South African banks, which account for 40% of the total assets of Africa’s Top 100 banks, have been particularly impacted by economic stagnation and a weakening rand.
The Banker’s Top 100 African Banks report provides key insights into the performance and financial strength of banking institutions across the continent, offering a comprehensive view of the sector’s challenges and growth prospects.
