The Top Best Banks in Ghana: There are about 32 private banks as of 2021 December in Ghana. The Bank of Ghana makes sure these banks are always up to their standards. Apart from giving you these top best banks in Ghana, you will also know other information like the the Minimum capital requirements, Fit and Proper Persons Requirement, Licensing and Applications, Compliance with Regulations, Approval of Shareholders and the Approval of Directors and Senior Management and dutifully, have the minimum GHS 400 million bank of Ghana requirements. The bank of Ghana is the main regulator of all the financial institutions in Ghana by creating policies to govern them.
Table of Contents
- Ghana top Banks Income Analysis
- List of the Top Best Banks in Ghana
- GCB Bank Ltd
- Ecobank Ghana Ltd
- Zenith Bank Ghana
- Absa Bank Ghana Limited
- Agricultural Development Bank
- Fidelity Bank Ghana
- National Investment Bank
- Universal Merchant Bank (UMB)
- Some Acredited Bank of Ghana Financial Services
The following are some of the top banks in Ghana. NOTE: These banks are picked from the Bank of Ghana’s website. However, we have tried our best to summarise some of their top products and also to pin-point by comparing them. Our method of orders is based on Net income and total assets.
Ghana top Banks Income Analysis
| Name of Bank | Net income | Total Assets | |
| GCB Bank Ltd | GHS 445.4 million (2020) | GHS 16.39 billion (3/2021) | |
| Ecobank Ghana Ltd | GHS 549.9 million (2020) | GHS 15.97 billion (3/2021) | |
| Zenith Bank Ghana | USD 854 million (2019) | 16.1 billion USD (2019) | |
| Absa Bank Ghana Limited | GHS 471.1 million (2020) | GHS 13.23 billion (3/2021) | |
| Agricultural Development Bank | GHS 65.4 million) (2020) | GHS 5.81 billion (3/2021) | |
| Fidelity Bank Ghana | GHS 90.43 million (2017) | GHS 5.38 billion (2017) | |
| National Investment Bank | GHS 120.11 million (2015) | GHS 2.65 billion (2015) | |
| Universal Merchant Bank Ghana Ltd | GHS 23.01 million (2020) | GHS 3.26 billion (2020) |
List of the Top Best Banks in Ghana
GCB Bank Ltd
With 14.2 percent of total industry deposits, GCB Bank Limited, formerly known as Ghana Commercial Bank, is the largest bank in Ghana in terms of total operational assets and proportion of industry deposits.
GCB Bank Ltd. was founded in 1953 as the Bank of the Gold Coast to provide banking services to the rising nation to foster socio-economic development.
The Bank intended to provide special attention to Ghanaian traders, businesspeople, and farmers who were unable to obtain financing from foreign institutions. For the advantage of its customers, GCB offers a wide range of products and services. GCB now offers specific products and services, such as Link2Home for Ghanaians living abroad, doorstep cash collection, loans, and overdrafts, in addition to the usual Current/Savings Accounts.
Treasury notes, as well as fixed and call deposits, are available as investment options. These are customized to meet the needs of each customer. In addition, GCB has introduced Internet Banking (Commernet Plus), Royal Banking, Smart Pay (Fee Payments), Kudi Nkosuo, GCB Inland Express Money Transfer, and International Money Remittance Payments, GCB Kidistar Account, and MasterCard using an updated information technology system.
Ecobank Ghana Ltd
Ecobank Ghana is a commercial bank based in Accra, Ghana, that was founded in 1990. It is also one of the top best banks in Ghana. Its a commercial bank which is regulated by the Bank of Ghana, the country’s banking regulator, with around 1,617 employees. Ecobank has consistently expanded in Ghana over the years to become one of the most well-known corporate names in the banking industry.
In 2003, Ecobank received a universal banking license, and in July 2006, it was floated on the Ghana Stock Exchange (GSE). With 67 branches, multiple point-of-sale terminals, many merchant QR codes in stores, and over 242 ATMs strategically placed across the country, the bank has begun a strategic transformation from a primarily Wholesale Bank to a Universal Bank.
With total assets of GHS15.95 billion, shareholders’ funds of GHS2.45 billion, profit before tax of GHS782.24 million, and profit after tax of GHS549.87 million at the end of 2020, the bank had a stellar financial performance. This resulted in a 26 percent return on average equity (ROAE) and a 3.8 percent return on average assets (ROAA).
Zenith Bank Ghana
In Nigeria, Ghana and Anglophone West Africa, Zenith Bank Plc is one of the finest best banks in Ghana. A major financial services company, the Central Bank of Nigeria, the country’s banking authority, has granted it a commercial banking license. It has $16.1 billion in total assets and $854 million in shareholders’ equity as of December 31, 2019.
Their adaptable solution provides you with the simplicity and convenience of a real-time, efficient, and secure banking experience from anywhere in the world. Log in with your credentials, check your balances, and make account transactions whenever it is convenient for you. The overall vision of the bank is to make the Zenith brand a reputable international financial services network, recognized for innovation, superior customer service and performance while creating premium value for all stakeholders.
Absa Bank Ghana Limited
Absa Bank Ghana Limited is a subsidiary of Absa Group Limited, an African financial services conglomerate that aspires to be Africa’s pride. Absa Group Limited is one of Africa’s most diversified financial services firms, with a presence in 12 countries throughout the continent with over 42,000 people, and is listed on the Johannesburg Stock Exchange (JSE).
We’re dedicated to discovering local answers to distinctly local problems, and we strive to offer value in all we do. To that aim, we provide retail, business, corporate and investment, and wealth management solutions to our customers. We also make sure that we have a good influence in all of the nations where we do business.
For just GHS24 per month, you may get access to a variety of world-class financial services, as well as free personal accident and travel insurance. Africa has what it takes to take on the globe, according to Absa.
That’s why you’ll find us helping customers and businesses in 12 countries throughout the continent, as well as worldwide. Absa provides the solutions, experience, and award-winning expertise to help you realize your vision.
Agricultural Development Bank
The Agricultural Development Bank of Ghana, or ADB, is a government-owned development and commercial bank in Ghana. Ghana’s government founded the bank as the country’s first development finance organisation.
Since its founding in 1965, the Agricultural Growth Bank (ADB) has focused on providing financial facilities for the development and modernisation of agriculture and related businesses. The ADB is thought to be responsible for around 85% of institutional loans to the agriculture sector.
The Agricultural Value Chain Department and the Agricultural Services Department make up the Agribusiness Division.
The Agricultural Value Chain Department focuses on developing viable value chains in the primary production sector, while the Agricultural Services Department provides financial intermediation to the agro-marketing, agro-processing, and agricultural support sub-sectors such as input distribution and agricultural-related infrastructure.
Fidelity Bank Ghana
Fidelity Bank is a commercial bank in Ghana that was granted its Universal Banking License on June 28, 2006, making it the Bank of Ghana’s 22nd licensed bank. It is one of the country’s twenty-seven licensed commercial banks. Fidelity Bank is based at Ridge Towers in Accra.
Ghanaian individuals, other institutional investors, and the bank’s senior management own the bank. The bank was once known as Fidelity Discount Company, Ghana’s largest discount house. The business environment in the nation attracted investors to the concept of founding a bank after it had been profitable for eight years.
Fidelity Bank Ghana Ltd., Ghana’s biggest privately held bank, is committed to assisting Ghana’s growth agenda via strategic partnerships, prompt financial interventions, and innovative products and services.
National Investment Bank
The National Investment Bank of Ghana (NIB) is a state-owned commercial bank and is one of the top best banks in Ghana. It is one of the commercial banks regulated by Ghana’s banking regulator, the Bank of Ghana. In Ghana, NIB is a medium-sized financial services firm.
NIB has been in operation since 1952, when it was named as the Gold Coast Industrial Development Corporation (GCIDC) The Gold Coast Industrial Development Corporation (GCIDC) encouraged indigenous people to start businesses in the furniture and baking industries.
In 1965, NIB’s massive backing for the agro-processing industry spurred the bank’s Agricultural Department to become the Agricultural Development Bank. At NIB, we prioritize your convenience. Because of this, we provide you with more banking options. Every Saturday, from 10:00 a.m. to 2:00 p.m., you can visit any of these branches for banking services.
Universal Merchant Bank (UMB)
The Universal Merchant Bank was formerly known as Merchant Bank Ghana Limited and is headquartered in Accra, Ghana’s capital. Universal Merchant Bank (UMB) is a full-service bank that specializes in customised banking products and services. UMB is a renowned Ghanaian indigenous bank with substantial financial experience, having been founded on March 15, 1972.
The Universal Merchant Bank was formerly known as Merchant Bank Ghana Limited and is headquartered in Accra, Ghana’s capital. Everything we do is infused with our fundamental principles, which guide our approach to providing great financial products and services. We use the acronym S.P.E.E.D. at UMB.
Some Acredited Bank of Ghana Financial Services
| Bank Name | Location | Address | Phone | Website | |
|---|---|---|---|---|---|
| Absa Bank Ghana Limited | Accra | 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 | Accra | 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 Plc | Accra | 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 | Accra | 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 | Accra | 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 | Accra | 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 Plc | Accra | 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 | Accra | 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 | Accra | Ridge Towers – Ridge, Accra. PMB 43, Cantonments, Accra, Ghana. | 233-302-214490 | http://www.fidelitybank.com.gh | wecare@my |
| Bank Name | Location | Contact Information | 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 Plc | 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, Manet Tower B, Airport City, Accra, P.O. Box 3726, Accra, Ghana. GPS Address: GL-116-4851 | 233-302-661701 | http://www.nib-ghana.com | info@nib-ghana.com |
| OmniBSIC Bank Ghana Limited | Plot 16, Atlantic Tower, Airport City, Accra; P.O. Box KN 5569, Kaneshie, Accra. GPS Address: GL-126-3809 | 233-307-086000, 0800100790 | http://www.omnibsic.com.gh | info@omnibsicbank.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 Plc | 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 |
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Glossary
Access Bank Ghana – A commercial bank operating in Ghana that offers a wide range of financial products and services to individuals and businesses.
Credit union – A cooperative financial institution that is owned and controlled by its members, who pool their resources to provide financial services to each other.
National bank – A bank that is owned and operated by the government of a country.
South Africa – A country located in southern Africa that has a well-developed banking sector and is home to several large banks.
Best bank – A bank that is considered to be superior to others in terms of its financial performance, customer service, and other factors.
Standard Chartered Bank – A multinational bank that operates in Ghana and other countries, offering a range of financial services to individuals and businesses.
Stanbic Bank – A subsidiary of Standard Bank Group, which operates in Ghana and other African countries, providing financial services to individuals and businesses.
Cal Bank – A commercial bank based in Ghana that offers a range of banking products and services to individuals and businesses.
Credit cards – A payment card that allows the holder to borrow funds from a bank or other financial institution to make purchases or withdraw cash.
Consolidated Bank Ghana – A commercial bank that was formed in 2018 by the merger of several troubled banks in Ghana.
Total asset – The sum of all assets owned by a bank, including loans, investments, and other financial instruments.
GT Bank – A commercial bank operating in Ghana that offers a range of banking products and services to individuals and businesses.
Standard Bank – A South African bank that operates in several African countries, offering a range of financial services to individuals and businesses.
ARB Apex Bank – A Ghanaian bank that provides financial services to rural and community banks in Ghana.
Societe Generale – A multinational bank that operates in Ghana and other countries, offering a range of financial services to individuals and businesses.
Republic Bank – A commercial bank operating in Ghana that offers a range of banking products and services to individuals and businesses.
World Bank – An international financial institution that provides loans, grants, and other forms of financial assistance to developing countries.
Interest rate – The amount of money that a borrower must pay to a lender for the use of money, expressed as a percentage of the amount borrowed.
Stanbic Bank Ghana – A subsidiary of Standard Bank Group, which operates in Ghana and provides financial services to individuals and businesses.
Investment banking – A type of banking that focuses on providing financial advice and services to corporations and other institutional clients.
UBA Ghana – A subsidiary of United Bank for Africa, which operates in Ghana and provides financial services to individuals and businesses.
UT Bank – A commercial bank based in Ghana that was liquidated in 2017 due to financial difficulties.
Atlantic Bank – A commercial bank operating in Ghana that offers a range of banking products and services to individuals and businesses.
Financial institution – An organization that provides financial services to its clients, such as banks, credit unions, and insurance companies.
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customer deposits
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