Top List of Banks in Ghana

The banking industry in Ghana is growing rapidly. The growth can be attributed to the banking reforms undertaken, the technology employed by banks, and the availability of fixed-rate deposits by some banks. The number of banks has also been on a steady increase.

With several banks in Ghana adopting the new inventions of mobile money transfer and customer service, many customers upped their trust in these banks, assisting the banks in making a significant improvement and realizing a steady growth in assets and customers. Let's look at the banks that have benefited from this growth to be one of the best in Ghana.

GCB Bank Limited

GCB Bank Limited, formerly Ghana Commercial Bank, is a commercial bank in Ghana. The Central Bank of Ghana licenses it and is one of its top ten banks in total asset value.GCB was established in 1953 to provide banking services to the trading community in Ghana. It has a universal bank headquartered in Kumasi, Ashanti, Ghana. It is one of the top Universal Banks in Ghana. It provides a full range of products and services to consumer and corporate customers through its network of 180 branches served by over 2600 employees of the bank across all regions of Ghana.

The bank has an asset of GHS 16.39 billion (USD 2.32 billion)

Ecobank Ghana (EBG)

Ecobank Ghana (EBG) is a subsidiary of Ecobank Transnational Inc. (ETI). Established in 1985, ETI is the parent company of the leading pan-African banking group, Ecobank. As part of Ecobank's international network, EBG offers local and international expertise to provide a comprehensive variety of creative banking products and services to individuals, businesses, financial institutions, and Ghana's public sector. In line with Ecobank's position as the leading independent pan-African banking group, EBG offers expert advice, highly competitive rates, and extensive local knowledge to all its clients, no matter how large or small their requirements. 

It manages 67 branches with over 1700 employees on its payroll. Its total assets sum up to GHS 15.97 billion (USD 2.26 billion)

Zenith Bank of Ghana

Zenith Bank (Ghana) Limited, a subsidiary of Zenith Bank PLC, is a bank licensed by the Bank of Ghana. The bank was incorporated in Ghana as a private limited liability company in 2005. It prides itself in providing responsive and innovative products and services customized to meet our corporate, institutional, public sector, and retail customers' unique needs. Its main branches include Ho, Abeka Lapaz, Ring Road, Airport City, and Tesano. Zenith Bank has also expanded to other countries around the world.

The bank is present in more than 24 overseas places with several branches. Its total assets add up to GHS 4.67 billion (USD 660 million)

Absa Bank Ghana Limited

Absa Bank Ghana Limited is one of the leading banks in Ghana. The bank was formerly known as Barclays Bank of Ghana Limited, which became the local subsidiary of Absa Group Limited (formerly Barclays Africa Group) at the end of December 2016. It manages a network of more than 40 branches, 18 agency banking locations, and over 550 ATMs in major towns and cities across the country.

It operates as a commercial bank, serving individuals, small and medium-sized enterprises, and corporations with a range of banking and financial products. The bank also offers financial advisory services, such as corporate finance and fixed income investment advice.

The company manages 52 Branches and over 162 ATMs across Ghana. Its total assets are accumulated to be GHS 13.23 billion ( USD 1.87 billion)

Agricultural Development Bank

The Agricultural Development Bank (ADB) is a government-owned developmental and commercial bank in Ghana. Initially established in 1965 as the People's Bank, it was reconstituted as the Agricultural Credit and Cooperative Bank (ACCB). In 1997, it launched an Initial Public Offer (IPO). The Government of Ghana divested its 100% shareholding to the public, thereby becoming a public limited liability company with a mandate to provide financial and advisory services to the agricultural sector.

The bank is based in Kumasi. ADB's services include:

  • Lending, leasing.

  • The provision of asset management.

  • Mortgage financing.

  • Agric credit delivery services.

  • The issuance of drafts and travelers' cheques and safekeeping.

The bank manages over 50 branches with more than 1500 workers. Its total asset as of 2021 was GHS 5.8 billion (USD 820 million)

Société Générale Ghana Ltd

Société Générale Ghana Ltd is a limited liability company incorporated in Ghana which the Bank of Ghana regulates. Société Générale Ghana Limited is a full-service bank providing financial services to corporate and commercial entities in Ghana. Composed of over 42 branches, with over 350 ATMs, the company offers retail banking, leasing, insurance, and investment banking services.

The bank boast of GHS 5.11 billion assets (USD 830 million)

Fidelity Bank of Ghana

Fidelity Bank is a full-service financial institution that does not operate solely to profit but with a customer-centric approach. Fidelity offers a diverse range of solutions and services, including online banking, mobile banking, wealth management, savings, and checking accounts.

It has branches of over 80 and 112 ATMs all over Ghana. Its current assets as of 2017 were GHS 5.38 billion (USD 760 million).

National Investment Bank

National Investment Bank (NIB) was established in 1963 as a development bank to undertake long-term, medium to low-risk projects. Since then, the bank has diversified into consumer banking and is a publicly owned institution with state corporation status.

It provides banking services to corporate and individual customers in general banking, credit creation, investments, and fund management. The bank has a total of 49 branches and 3 agencies across the country. Its total asset as of 2015 Stand at 2.65 billion (USD 360 million)

Universal Merchant Bank Ghana Ltd

Universal Merchant Bank Ghana Ltd was converted from a Savings and Loans Company to a Universal Bank. The objective is to operate as a well-diversified commercial bank, providing services to high net worth individuals, corporate entities, and small and medium-sized businesses. The Bank is well recognized as one of the top three financial service providers in the country, based on asset size and profitability. It manages 31 branches with several ATMs across the country. The current asset stand at GHS 3.26 billion (USD 360 million)

Access Bank Ghana

Access Bank Ghana Limited commenced business in 2009 and has emerged as one of the top promising financial institutions in the country with a network of 56 Branches and Service Centres across the country. Formerly known as Intercontinental Bank, Access Bank bought over and established itself in Ghana after acquiring Intercontinental Bank Plc Nigeria.

The company accepts savings and current accounts and fixed deposits and offers personal unsecured loans. It also provides treasury products comprising money market funds, time deposit accounts, foreign exchange sales and purchases, trade finance services, foreign currency loans, overdrafts to individuals, corporate finance services, and asset management services.

It has a total asset of GHS 8.9 billion as of 2018.


What does cor mean in banking?

Commission On Turnover: this abbreviation is often used in banking to mean the charges levied on customer withdrawals by their banks which are always charged at 5 for every 1000.