Ghana’s banking industry recorded a significant increase in customer deposits in 2025, with total deposits rising by 25 per cent from GH¢266.5 billion in 2024 to GH¢334.3 billion, according to the PwC Ghana Banking Survey 2026.

The survey attributed the growth to improved macroeconomic stability and stronger customer confidence, supported by the expansion of branch and agency banking networks and continued adoption of digital banking services.

The increase was recorded across the major categories of deposits, reflecting stronger mobilisation by banks and changing customer preferences for savings and investment products.

Current accounts dominate

Current account deposits increased by 15.8 per cent to GH¢184.9 billion in 2025, which the survey linked to increased transaction banking activity.

Time deposits recorded the strongest 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 said the sharp increases in time and call deposits reflected customers’ response to attractive fixed-term investment products.

The overall growth in deposits provides banks with a larger pool of funds to support lending, investment and other banking activities, while also indicating increased confidence in the formal banking system.

Top three banks control nearly one-third

Despite the broad-based growth, the survey found that deposits remained concentrated among the leading banks.

Approximately 30.7 per cent of total industry deposits were held by GCB Bank, Ecobank Ghana (EBG) and Stanbic Bank Ghana (SBG) in 2025.

The three institutions ranked first, second and third respectively in deposit market share.

GCB Bank led the industry with 12.37 per cent, followed by Ecobank Ghana with 10.52 per cent and Stanbic Bank Ghana with 7.80 per cent.

Their combined share underscores the continued dominance of large banks with extensive branch networks, established retail and corporate customer bases and increasingly developed digital banking platforms.

OBL makes major gains

The survey also highlighted significant movements among individual banks.

OmniBSIC Bank (OBL) recorded one of the most notable improvements in deposit market share, moving from 13th position in 2024 to fifth in 2025, with a 6.0 per cent share.

The survey attributed the improvement to focused customer acquisition strategies and growth in retail and small and medium-sized enterprise (SME) deposits.

Zenith Bank Ghana (ZBL) also strengthened its position, increasing its deposit market share from 5.9 per cent to 6.3 per cent, supported by targeted deposit mobilisation and digital banking initiatives.

First Atlantic Bank (FABL) increased its share to 4.9 per cent, with the survey attributing the performance to sustained customer retention and enhanced business banking offerings.

Confidence and competition

The deposit growth recorded in 2025 points to a strengthening funding base for Ghana’s banking sector after a period of significant macroeconomic and financial-sector pressures.

The shift towards time deposits also suggests that customers were increasingly willing to commit funds for fixed periods in response to investment returns, while the growth in current accounts reflects continued demand for transaction-based banking services.

The survey, however, indicates that the market remains competitive but concentrated, with the largest institutions continuing to command a substantial share of industry deposits.

The challenge for banks outside the top tier will be to sustain customer acquisition and retention while expanding digital services, agency networks and products capable of attracting both retail and business customers.