Ecobank Ghana has been adjudged the nation’s biggest bank by the Centre for Economic Finance and Inequality Studies.
The Centre in its 2019 banking sector report for the period between 2018 to 2019, assessed the performance of Ghana’s 23 banks in terms of assets, deposit mobilization and loan disbursement.
Ecobank Ghana according to the report for the period under review, grew in assets from Ghs 10.4 billion to Ghs 13.1 billion. Its mobilized deposits also grew to over Ghs 11 billion, making it the biggest bank in the country at the moment.
The bank also stood tall in the areas of fees and commissions.
However, in terms of profitability, Guarantee Trust Bank (GT Bank) was adjudged the most profitable bank for 2019.
According to the Centre, GT Bank together with the other 22 banks were assessed based on earnings from adequate returns on loans and other non-loan activities.
Societe-General Bank (SG-SSB) in the report, was described as the best bank when it comes to interest on income and financial intermediation in the country.
The 2019 banking sector report by the Centre for Economic Finance and Inequality Studies confirms Ecobank’s dominance in Ghana’s banking industry and how the bank can leverage on it to secure some big transactions going forward next year.
