Who Holds Ghana's Customer Deposits?

A Look at the Deposit Rankings of Ghana's 23 Banks in FY2025

Customer deposits remain one of the strongest indicators of confidence in a bank. They reflect where households, businesses, and institutions choose to keep their money and often signal a bank's market strength, liquidity, and customer reach.

Based on disclosed FY2025 financial statements, Ghana's banking industry held approximately GH¢324.2 billion in customer deposits across 23 banks. The data reveals a sector dominated by a handful of large institutions, with significant differences between the largest and smallest deposit holders.

Ranking Ghana's Banks by Total Customer Deposits in 2025

GCB Leads the Market

GCB Bank ranks first with GH¢41.05 billion in customer deposits, representing roughly 13.9% of all deposits reported by the 23 disclosed banks. Ecobank follows with GH¢30.40 billion, while Stanbic Bank secures third place with GH¢24.01 billion.

Zenith Bank and Absa Bank complete the top five, each holding more than GH¢19 billion in customer deposits.

Deposit Concentration Is High

The five largest banks collectively hold GH¢135.5 billion, accounting for approximately 42% of all disclosed customer deposits. This concentration highlights the dominant role of a small group of institutions in Ghana's banking system.

Such concentration is common in many banking markets, where larger institutions benefit from extensive branch networks, stronger corporate relationships, digital banking capabilities, and established customer trust.

Mid-Tier Competition Remains Strong

Banks such as GTBank, Fidelity Bank, First Atlantic Bank, OmniBSIC, Access Bank Ghana, CBG, and Agricultural Development Bank each hold between GH¢13 billion and GH¢18 billion in customer deposits. Their relatively close deposit balances indicate a competitive middle tier with opportunities for growth through innovation, customer service, and digital transformation.

Smaller Banks Face Greater Challenges

At the lower end of the ranking, FNB Ghana, First Bank Ghana, and Bank of Africa together hold just GH¢9.5 billion, representing approximately 2.9% of sector deposits. While these banks maintain important market niches, the figures illustrate the scale advantage enjoyed by larger competitors.

The Median Bank

The median institution in the ranking is Agricultural Development Bank, with GH¢13.22 billion in customer deposits. Half of the banks report deposit balances above this level, while the remaining half fall below it, providing a useful benchmark for assessing market position.

What the Rankings Mean

Customer deposits are fundamental to bank funding, lending capacity, and long-term financial stability. Institutions with larger deposit bases typically have greater flexibility to finance loans, invest in technology, and expand their product offerings. However, deposit size alone does not determine profitability or efficiency, which depend on factors such as asset quality, funding costs, and operational performance.

As Ghana's banking sector continues to evolve, these deposit rankings offer valuable insight into customer confidence, competitive positioning, and the structure of the industry.

Source: Bank-level FY2025 summary financial statements prepared using the Bank of Ghana disclosure format. UMB (Q3 2025) and Prudential Bank (September 2025) figures are interim results.