GCB Bank has reclaimed its position as Ghana’s largest deposit-taking bank, overtaking Ecobank Ghana in 2025, according to the PwC Ghana Banking Survey 2026.
GCB accounted for 12.37 per cent of total industry deposits during the year, up from 10.86 per cent in 2023, although slightly lower than the 12.99 per cent recorded in 2024.
Ecobank Ghana, which occupied the top position in 2024 with a 14.33 per cent share, saw its share decline to 10.52 per cent in 2025.
Stanbic Bank Ghana ranked third, with a 7.80 per cent share of industry deposits.
The latest figures mark a reversal in the deposit market, with GCB moving back to the top after finishing second behind Ecobank in 2024.
Industry deposits record strong growth
The change in market leadership occurred amid substantial growth in deposits across Ghana’s banking sector.
The PwC survey shows that total industry deposits rose by 25 per cent, from GH¢266.5 billion in 2024 to GH¢334.3 billion in 2025.
PwC attributed the increase to improved macroeconomic conditions and stronger confidence among banking customers, as well as the continued expansion of branch and agency networks and increased use of digital banking platforms.
Current account deposits grew by 15.8 per cent to GH¢184.9 billion, reflecting increased activity in transaction banking.
Time deposits recorded the sharpest growth among the major categories, rising by 56.8 per cent to GH¢49.2 billion, while call deposits increased by 37.5 per cent to GH¢16.7 billion.
The survey linked the rise in time and call deposits partly to customers’ response to attractive fixed-term investment products offered by banks.
GCB, Ecobank and Stanbic lead market
GCB, Ecobank and Stanbic collectively controlled about 30.7 per cent of Ghana’s total banking industry deposits in 2025.
Based on the industry’s total deposits of GH¢334.3 billion, GCB’s 12.37 per cent share represents approximately GH¢41.3 billion, while Ecobank’s 10.52 per cent share amounts to about GH¢35.2 billion.
The figures highlight the intense competition among banks to attract and retain deposits, which remain critical for supporting liquidity, lending and other banking operations.
Other banks strengthen their positions
The survey also recorded notable gains among several other banks.
OmniBSIC Bank recorded one of the biggest increases in deposit market share, rising from 3.15 per cent in 2024 to 6.02 per cent in 2025.
The growth propelled the bank from 13th to fifth place in the market. PwC attributed the improvement to focused customer acquisition efforts and growth in retail and SME deposits.
Zenith Bank Ghana also increased its share, from 5.91 per cent to 6.27 per cent, with targeted deposit mobilisation and digital banking initiatives supporting its performance.
First Atlantic Bank’s share rose from 4.36 per cent to 4.98 per cent, which the survey associated with stronger customer retention and improved business banking offerings.
The developments point to a more competitive deposit market, with both major and mid-sized banks seeking to expand their customer bases and capture a larger share of Ghana’s growing pool of deposits.
