The banking and financial sector in Ghana is made up of 32 private banks. The central monetary authority of Ghana is the Bank of Ghana. The Ghanaian central bank, which was established in 1957, oversees financial institutions and banks in Ghana. It also monitors monetary policies and gives advice to the government on how to put them into practice.
At the beginning of 2021, Moody’s Investors Service reiterates a negative outlook for banks in Ghana. Ghana’s creditworthiness was adversely impacted by its excessive reliance on foreign financial flows, large debt load, and underwhelming revenue, all of which were exacerbated by the COVID-19 pandemic.
This article by Mrpocu.com about banks is a useful place to start for anyone looking to learn more about banking in Ghana.
Top Banks In Ghana
GCB Bank Limited
With its main office in Accra, GCB Bank Limited changed its name from Ghana Commercial Bank to what it is known as today in 2013. To service the farmers, business owners, and traders in the area, the bank was established in 1953 as the Bank of the Gold Coast. Currently, it provides a variety of financial services and products to its clients, which include people, small and medium-sized businesses, parastatal organisations, and big businesses.
In 2016, the bank managed 180 branches and 11 agencies around the nation while employing 2.437 people.
Net income: GHS 445.4 million (2020)
Total assets: GHS 16.39 billion (3/2021)
Zenith Bank of Ghana
Zenith Bank Ghana is a division of Zenith Bank Plc, a global provider of financial services with headquarters in Nigeria. The bank launched its universal banking business in 2005, providing top-notch banking services to people and businesses all around the nation.
In addition to 34 commercial locations (branches and agencies), Zenith also manages a number of POS terminals and ATMs from its Accra headquarters. It is one of the banks in Ghana that offers real-time internet banking and mobile banking services.
Net income: GHS 172.55 million (2017)
Total assets: GHS 4.67 billion (2017)
Ecobank Ghana (EBG)
A member of the Ecobank Group, which conducts business in 36 African nations, is Ecobank Bank. The first bank in Ghana to be granted a universal bank licence by the nation’s central bank was EBG. After Ecobank Transnational fully bought The Trust Bank, it began operating in 1989.
The bank offers financial services for the Hajj, as well as payment and transfer options, cards and loans, bancassurance, e-products, microfinance, and investment options. As of 2021, it had 67 branches and 1,741 employees.
Net income: GHS 549.9 million (2020)
Total assets: GHS 15.97 billion (3/2021)
Absa Bank Ghana Limited
Absa Bank Ghana Limited, originally Barclays Bank Ghana, was founded in 1917 and provides consumers in Ghana with personal banking goods and services. Additionally, it offers enterprises and corporate clients products and services in the areas of corporate, treasury, and retail.
The financial services group oversees a network of more than 70 service locations around the nation, including 164 ATMs, four agencies, three Premier Suites, 52 Branches, and eight Prestige Centers.
Net income: GHS 471.1 million (2020)
Total assets: GHS 13.23 billion (3/2021)
Agricultural Development Bank
The Agricultural Development Bank (ADB) was established in 1965 by an act of parliament to meet the financial requirements of Ghana’s agricultural industry. Following the acquisition of full commercial banking authority, the bank changed its name from Agricultural Credit and Co-operative Bank in 1970.
The government-owned development and commercial bank, with its headquarters in Accra, is in charge of a nationwide network of 64 service locations, including 50 branches, 10 agency offices, and four Farm Loan Offices. It has 1,489 employees.
Net income : GHS 65.4 million) (2020)
Total assets: GHS 5.81 billion (3/2021)
Société Générale Ghana Ltd
As one of the banks in Ghana, Société Générale Ghana (SG), originally Société Générale – Social Security Bank (SG-SSB), began operations in 1977. The bank, which was incorporated in 1975 under the name Security Guarantee Trust Limited, is today a division of the Société Générale banking group.
Following Société Générale’s acquisition of a 51 per cent controlling stake in the financial services provider in 2004, the bank changed its name to SG-SSB. Following shareholder approval, the company changed its name to what it is known as today in 2013.
Headquartered in Accra, it oversees 42 branches across the country.
Net income: GHS 128.5 million (2019)
Total assets: GHS 5.11 billion (9/2020)
Fidelity Bank of Ghana
The commercial banking licence for Fidelity Bank of Ghana, formerly Fidelity Discount House, came in 2006. The bank provides goods and services for retail, business, and personal banking. It serves Ghana’s unbanked and underbanked population through its Financial Inclusion Directorate subsidiary and is the fastest-growing indigenous bank in the nation.
The bank, which has its headquarters in Accra, runs a network of more than 80 branches and 112 ATMs in Ghana.
Revenue: GHS 522.97 million (2017)
Net income: GHS 90.43 million (2017)
Total assets: GHS 5.38 billion (2017)
Universal Merchant Bank Ghana Ltd
One of the largest merchant banks in Ghana, Universal Merchant Bank Ghana Ltd, started functioning in 1972. The bank began providing retail banking services and products in 2005 after receiving its universal banking licence. With sections for Treasury, Trade, and Credit, it functions through its Personal, Private, Business, Corporate, and Internet Banking segments.
Currently, the bank oversees two UMB Centers for Businesses, one UMB PPP Incubator Center, and 31 branches.
Net income: GHS 23.01 million (2020)
Total assets: GHS 3.26 billion (2020)
National Investment Bank
Ghana’s universal bank, the state-owned National Investment Bank (NIB), primarily provides development and commercial banking services. The bank also plays a significant role in financing the nation’s manufacturing, services, building and construction, and agricultural processing industries.
A national development bank known as the NIB was founded by the government of Ghana in 1963 with the goal of fostering and accelerating the local economy’s fast industrialisation. The bank, which has its headquarters in Accra, currently oversees 49 branches and three agencies nationwide.
Revenue: GHS 348.83 million (2015)
Net income: GHS 120.11 million (2015)
Total assets: GHS 2.65 billion (2015)
This is a comprehensive database of all the licensed Banks On bog.gov.gh
| Bank Name | Address | Phone Number | Website | |
|---|---|---|---|---|
| Absa Bank Ghana Limited | Absa House J.E. Atta-Mills High Street Accra P.O. Box GP2949, Accra | 233-302-429150 | https://www.absa.com.gh | service.excellence@absa.africa |
| Access Bank (Ghana) Plc | Starlets’ 91 Road, Opposite Accra Sports Stadium, Osu P. O. Box GP 353, Accra, Ghana | 233-302-661769, 233-302-684858, 233-302-661613 | http://www.ghana.accessbankplc.com | info@ghana.accessbankplc.com |
| Agricultural Development Bank Limited | Accra Financial Centre, 3rd Ambassadorial Development Area, Ridge-Accra, P.O. Box 4191, Accra-Ghana | 233-302-770403, 233-302-762104, 233-302-783123,233-302-784394,233-28-9255880,233-28-9225881 | http://www.agricbank.com | customercare@agricbank.com |
| Bank of Africa Ghana Limited | Head Office,1st Floor, Block A&B,The Octagon, Independence Avenue P.O. Box C1541 Cantonments, Accra – Ghana | 233-302-249690,233-302-249679/83/98,233-302-249683,233-302-249683,233-302-249698 | http://www.boaghana.com | complaints@boaghana.com |
| CalBank PLC | Head Office 45 Independence Ave P.O. Box 14596 Accra – Ghana | 233-302-680061, 233-302-680069 | http://www.calbank.net | customercare@calbank.net |
| Consolidated Bank Ghana Limited | First Floor, Manet Tower 3, Airport City, Accra PMB CT363 ,Cantonments, Accra | 233 302-634330, 233 302-634359, 233 302-216000 | http://www.cbg.com.gh | info@cbg.com.gh |
| Ecobank Ghana Limited | 2 Morocco Lane, Off Independence Avenue, P.O. Box: P.O. Box AN 16746, Accra North – Ghana | 233 302-681146/8, 233 302-213999 | http://www.ecobank.com | ecobankenquiries@ecobank.com |
| FBNBank (Ghana) Limited | Head Office,Plot No. 678, Liberation Road, Airport, Accra, PMB No. 16, Accra North, Ghana | 233-302-236136/235684, 233-302-238510, 233-302-235684, 233-302-236136, 233-302-235819 | http://www.fbnbankghana.com | fbn@fbnbankghana.com |
| Fidelity Bank Ghana Limited | Ridge Towers – Ridge, Accra. PMB 43, Cantonments, Accra, Ghana. | 233-302-214490 | http://www.fidelitybank.com.gh | wecare@myfidelitybank.net |
| First Atlantic Bank Limited | 233 -302-68 2203, 233-302-68 0825 | 233 -302-68 2203, 233-302-68 0825 | http://www.firstatlanticbank.com.gh | Info@firstatlanticbank.com.gh |
| Bank Name | Address | Phone Number | Website | |
|---|---|---|---|---|
| First National Bank (Ghana) Limited | Head Office, 6th Floor, Accra Financial Centre, Cnr. Independence Ave./Liberation Road, P.O. Box TU 23, Accra-Ghana | 233-302-242435050 | http://www.firstnationalbank.com.gh | info@firstnationalbank.com.gh |
| GCB Bank Limited | Head Office, High Street , 2 Thorpe Road, P.O. Box 134, Accra | 233-302-672852, 233-302-664918, 233-302-663964, 233-302-672852-4, 233-302-672859, 233-302-672865, 233-302-663480, 233-302-664910 | http://www.gcbbank.com.gh | corporateaffairs@gcb.com.gh |
| Guaranty Trust Bank (Ghana) Limited | 25A, Castle Road, Ambassadorial Enclave, Ambassadorial Enclave, Ridge, PM.B CT 416, Accra – Ghana | 233-302 – 680668, 233-302 – 676462, 233-302 – 687751, 233-302 – 680662, 233-302 – 680746, 233-302 – 676681, 233-302 – 201027, 233-303 – 201048, 233-302 – 816621-3 | http://www.gtbghana.com | gh.corporateaffairs@gtbank.com |
| National Investment Bank Limited | Head Office, 37 Kwame Nkrumah Avenue, P.O. Box 3726, Accra, Ghana | 233-302-661701 | http://www.nib-ghana.com | info@nib-ghana.com |
| OmniBSIC Bank Ghana Limited | C9/14 Dzorwulu, Olusegun Way, Opposite Allied Oil Filling Station, P.O. Box KN 5569, Kaneshie, Accra | 233-307-086000 | http://www.omnibank.com.gh | info@omnibank.com.gh |
| Prudential Bank Limited | Head Office, Ring Road Central, PMB – General Post Office, Accra – Ghana | 233-302-781200-7 | http://www.prudentialbank.com.gh | headoffice@prudentialbank.com.gh |
| Republic Bank (Ghana) PLC | Head Office, Ebankese No. 35, Sixth Avenue, North Ridge, Accra – Ghana, P.O Box CT 4603, Cantonments,Accra – Ghana | 233-302-242090-2, 233-302-242090-4 | http://www.republicghana.com | email@republicghana.com |
| Societe General (Ghana) Limited | Head Office, P. O. Box 13119, Ring Road Central Accra, Accra – Ghana | 233-302-202001, 233-302-248920, 233-577606464 | http://www.societegenerale.com.gh | sgghana.info@socgen.com |
| Stanbic Bank Ghana Limited | Head Office, Stanbic Heights, 25 Liberation Link, Airport City, P.O. Box CT 2344, Cantonments, Accra-Ghana | 233-302-687670-8, 233-302-687671, 233-302-687672, 233-302-687673-9 | http://www.stanbicbank.com.gh | customercare@stanbic.com.gh |
| Standard Chartered Bank (Ghana) Limited | Head Office, No. 87 Independence Avenue, P.O. Box 768, Accra | 233-302-664591-8, 233-302-740100 | http://www.sc.com/gh | feedback.ghana@sc.com |
| Bank Name | Address | Phone Number | Website | |
|---|---|---|---|---|
| United Bank for Africa (Ghana) Limited | PMB 29, Ministries, Heritage Towers, Ambassadorial Enclave, Off Liberia Road, Ridge, Accra-Ghana | 233-302- 674085, 233-302-674089, 233-302-674056 | http://www.ubagroup.com | |
| Universal Merchant Bank Limited | Airport City, SSNIT Emporium, P.O. Box 401, North Ridge, Accra-Ghana | 233-302- 666331/6 | http://www.myumbbank.com | info@myumbbank.com |
| Zenith Bank (Ghana) Limited | Head Office, Zenith Heights, No. 31 Independence Avenue, PMB CT 393, Cantonments, Accra | 233-302-660075, 233-302-611500, 233-302-660079, 233-302-660091, 233-302-660093, 233-302-660095 | http://www.zenithbank.com.gh | info@zenithbank.com.gh |