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Best Banks in Ghana 2024: Top 10



top 10 best banks in Ghana

Top 10 Best Banks in Ghana – There about 28 private banks in Ghana currently and a number of commercial banks in operation. This makes choosing the best bank in Ghana extremely difficult.

The recent baking sector clean up even made it worse for many people to impose their confidence in banks.

Based on a number of factors, we have compiled the list of the top 10 best banks in Ghana you can choose from.

Whether your aim is make an investment, save money or one you can take your salary from, our list has got you covered. Read through and choose one that serves your purpose.

Absa Bank Ghana

Absa Bank Ghana (officially Absa Bank Ghana Limited) (ABGL), formerly known as Barclays Bank of Ghana Limited, is a commercial bank in Ghana, licensed by the Bank of Ghana, the country’s central bank and national banking regulator.

 ABGL is a subsidiary of Absa Group Limited, a financial services conglomerate, headquartered in South Africa, with subsidiaries in 12 African countries.

Absa Bank Ghana is a large financial services company, serving corporate clients, high networth individuals, retail customers and small and medium enterprises.

The bank had assets of GHS:12.546 billion (US$2.075 billion), with shareholders’ equity of GHS:1.948 billion (US$322.2 million).

This makes ABSA one of the best in Ghana for your investments.

CalBank PLC

CalBank is a commercial bank in Ghana, that is licensed by the Bank of Ghana, the central bank and national banking regulator.

Founded in 1990, CalBank is a large financial services retail bank that serves the banking needs of large corporations, high net worth individuals, non-governmental organisations, regular customers and small and medium enterprises.

The bank’s assets totaled GHS:7,924,586,000 (US$1.370 billion), with shareholders’ equity of GHS:1,132,772,000 (US$195 million).

CAL Bank is among the top 10 best in Ghana.

Agricultural Development Bank Limited

Another one of the best banks in Ghana is Agricultural Development Bank Limited.

Agricultural Development Bank of Ghana, commonly known as Agricultural Development Bank or ADB, is a government-owned development and commercial bank in Ghana.

The bank is the first development finance institution established by the Government of Ghana. It is one of the commercial banks licensed by the Bank of Ghana.

Agricultural Development Bank (ADB) Limited is a universal bank offering a full range of banking products and services in Consumer, Corporate, Parastatals/Public Sector, SME, Agriculture, Trade and E-Banking services. Its business focus is universal banking with a developmental focus on Agriculture and more.

The Bank successfully listed on  the Ghana Stock Exchange (GSE) on December 20, 2016. The new ownership structure of the Bank is:

  1. Financial Investment Trust -64.05%
  2. Government of Ghana – 21.50%
  3. Ghana Amalgamated Trust PLC- 11.26%
  4. Retail investors and ADB staff – 3.2%.

Ecobank Ghana Limited

Ecobank Ghana PLC (Ecobank) was incorporated on January 9, 1989 as a private limited liability company under the Companies Code to engage in the business of banking. Ecobank was initially licensed, to operate as a merchant bank, by the Bank of Ghana on November 10, 1989 and commenced business on February 19, 1990.

In Ghana, Ecobank has grown consistently over the years to become one of the well-recognized corporate brands in the banking industry.

The bank posted sterling financial performance at the close of 2020, with total asset size of GHS15.951 billion, shareholders’ funds of GHS2.448 billion, profit before tax of GHS782.240 million and profit after tax of GHS549.874 million.

This resulted in a return on average equity (ROAE) of 26% and return on average assets (ROAA) of 3.8%.

Ecobank is one of the best investment banks in Ghana.

Access Bank (Ghana) Plc

Access Bank Ghana Plc, formerly Access Bank Ghana Limited, is a full service commercial bank in Ghana, licensed by the Bank of Ghana, the central bank and national banking regulator.

Access Bank Ghana is a subsidiary and component of the Access Bank Group, a financial services conglomerate with headquarters in Nigeria and subsidiaries in the Democratic Republic of the Congo, Gambia, Ghana, Kenya, Nigeria, Rwanda, Sierra Leone, Zambia and the United Kingdom.

The group also maintains representative offices in China, India, United Arab Emirates and Lebanon.

Access Bank Group was a large pan-African financial services organization with assets in excess of ₦7.28 trillion (US$18.82 billion)

Stanbic Bank Ghana Limited

STANBIC BANK GHANA LIMITED is located in Accra, Ghana and is part of the Depository Credit Intermediation Industry. STANBIC BANK GHANA LIMITED has 159 employees at this location and generates $122.73 million in sales (USD). (Employees figure is estimated).

GCB Bank Limited

GCB Bank Limited formally known as Ghana Commercial Bank is the largest bank in Ghana in terms of total operating assets and share of industry deposits, with 14.2% of total industry deposits.

The shares of stock of GCB Bank Ltd are listed on the Ghana Stock Exchange and are part of the exchange’s GSE All-Share Index.

The government of Ghana maintains 21.4% shareholding in the bank, while the remaining 78.6% is owned by institutional and private investors.

GCB Bank Ltd maintains its headquarters in Accra, the capital of Ghana and the largest city in the country.

The bank has over 184 branches distributed across most major urban areas of Ghana, with plans to refurbish many of them following a re-brand in 2014.

Republic Bank (Ghana) PLC

Republic Bank Ghana Limited, formerly HFC Bank, is a commercial bank in Ghana. It is one of the commercial banks licensed by the Bank of Ghana, the central bank and national banking regulator.

As of March 2020, Republic Bank was a medium-sized financial services provider in Ghana, with total assets valued at GHS:3.377 billion (US$586.5 million) and shareholders’ equity valued at GHS:574,616,000 (approximately US$99.8 million)

Societe General (Ghana) Limited

Societe Generale Ghana Limited (SG) is a bank that is based in Ghana, previously known as Société Générale – Social Security Bank (SG-SSB). The bank is part of the Société Générale banking group.

 According to its website it is the 7th largest bank in Ghana and has 45 networked branches in Ghana

The bank markets the “Sika” program including the SIKA Card, a credit card and the Sikatext Initiative Program. The bank is actively investing in internet banking.

United Bank for Africa (Ghana) Limited

Currently, UBA has 19 African subsidiaries, contributing about 20% of the Group’s balance sheet, with a target of contributing 50%. 

Source: Glusea