Absa, GCB, Stanbic and Ecobank ranked the four most dominant banks in Ghana
Absa Bank Ghana, GCB, Stanbic Bank Ghana and Ecobank Ghana have been ranked the four most dominant banks in the country in terms of the banks’ balance sheet size.
The four banks, according to the Ghana Association of Bankers (GAB) in its maiden edition of the “Gh Bankers’ Voice,” control 41.1 percent of the banking industry’s profit before tax, 42 percent of the industry’s revenue, 39 percent of industry assets and 39.5 percent of industry deposits.
According to the Association, the banking sector clean-up and new capital injections have restored trust and confidence in the sector, with key industry indicators trending positively.
Total industry deposit base, the Association notes, has grown from Ghs 58 billion in 2017 to Ghs 103 billion in 2020 representing a 77 percentage points growth in customer deposits.
Total assets of the banking sector, it also noted, has increased from Ghs 93 billion in 2017 to Ghs 149 billion in 2020.
Non-Performing Loans (NPLs), GAB added, has trended downwards from 21.6 percent in 2017 to 14.8 percent in 2020.
The banking industry’s performance despite the impact of the Covid-19 pandemic on its operations, the Governor of the Central Bank, Dr Ernest Addison notes, continues to reflect sustained growth in customer deposits, investments, total assets and profits while key financial soundness indicators in relation to liquidity, profitability and solvency remain healthy.
The industry’s revenue, the report also reveals, continue to grow in double digits after a dip in 2018. The growth in revenue, the report notes, is driven by both interest income and and non-interest income
GAB, in the report asserts that the industry’s outlook remains positive adding that regulatory compliance, digitisation, cost optimisation and sustainable banking will drive customer-centricity and financial inclusion going forward.
Below is the ranking by the GAB in its maiden Gh Bankers’ Voice report
