Ecobank and GCB Bank Monitor Industry Deposits Quarter in 2020

Ecobank Ghana and GCB Bank continued to display their dominance in the banking sector, controlling nearly a quarter of the sector’s deposits in 2020.

They controlled around 23.9% of the banking sector’s market share in terms of deposits in 2020.

According to research analysis by investment firm; Tesah Capital, Zenith Bank was Ghana’s best bank last year in terms of financial performance.

Next come the 2nd to 9th positions of Standard Chartered Bank, Ecobank Ghana, GCB Bank, Fidelity Bank, Guaranty Trust Bank, Access Bank Ghana, Stanbic, Absa and Consolidated Bank Ghana in that order.

When it comes to lending, Ecobank Ghana dominated the industry, with 10.4% of assets last year, followed by Absa, Stanbic and GCB in that order.

On the contrary, FBN Ghana, UMB and Prudential Bank were the lowest ranked banks on the basis of the CAMEL components, with the National Investment Bank and OmniBSIC not taken into account in the report.

Bank performance rating rankings were based on financial statements released by banks for fiscal year 2020.

The ranking covered 21 of Ghana’s 23 commercial banks. Financial data from OMNIBSIC and the National Investment Bank was not available at the time of analysis.

Rankings emanate from an assessment of bank creditworthiness and performance using the CAMEL framework.

Zenith Bank, Standard Chartered Bank and EcoBank Ghana were the top three banks with strong performances during the year under review.

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