Banking Sector Deposits Hit GHS 302bn as Growth Slows Sharply in October 2025
Total deposits within Ghana’s banking sector reached GHS 302.0 billion as at the end of October 2025, reflecting a sharp deceleration in growth momentum over the year.
Data from the November 2025 Banking Sector Development Report show that deposit growth slowed markedly to 8.9 percent year-on-year, down from 38.7 percent recorded in October 2024.
The report indicates that the subdued expansion was largely supported by domestic currency deposits, amid weakening performance on the foreign currency side.
In cedi terms, foreign currency deposits declined by 21.1 percent to GHS 71.3 billion in October 2025, reversing a 39.8 percent increase recorded over the same period last year. The contraction was attributed mainly to the appreciation of the Ghana cedi, which reduced the local currency value of foreign-denominated holdings.
Meanwhile, the banking industry’s shareholders’ funds, made up of paid-up capital and reserves, rose by 41.0 percent to GHS 53.5 billion during the period, compared with a 49.5 percent growth rate in October 2024.
According to the report, the expansion in capital buffers was underpinned by strong profitability across the industry, alongside select recapitalisation efforts by banks, although the pace of growth moderated relative to the previous year.
