Banking sector deposits jump 25% to GH¢334.3bn in 2025 — PwC

The Ghanaian banking industry experienced a substantial 25% increase in customer deposits in 2025, according to the PwC Ghana Banking Survey 2026. The total deposits rose from GH¢266.5 billion in 2024 to GH¢334.3 billion, driven by factors such as improved macroeconomic stability, stronger customer confidence, expanded branch and agency banking networks, and growing adoption of digital banking services.

The surge in deposits impacted all major categories, with current accounts increasing by 15.8% to GH¢184.9 billion, time deposits growing 56.8% to GH¢49.2 billion, and call deposits rising 37.5% to GH¢16.7 billion. These growth rates highlight shifting customer preferences towards savings and investment products. The three largest banks collectively controlled nearly one-third of total industry deposits in 2025, with GCB Bank leading with 12.37%, followed by Ecobank Ghana at 10.52% and Stanbic Bank Ghana at 7.80%.

This concentration of deposits among leading banks underscores their dominance through extensive branch networks, established customer bases, and advanced digital banking platforms. Notably, OmniBSIC Bank (OBL) saw significant gains, moving up to fifth place in 2025 from 13th in 2024, and Zenith Bank Ghana increased its deposit market share from 5.9% to 6.3%.

First Atlantic Bank (FABL) also expanded its share to 4.9%. While the overall deposit growth provides banks with a larger lending and investment pool, the survey notes that the market remains competitive but dominated by a few large institutions. Banks outside the top tier face challenges in sustaining customer acquisition, retention, and expanding digital services and products to attract both retail and business customers.