GCB Bank has regained its position as Ghana’s largest bank by deposit market share, overtaking Ecobank Ghana (EBG) in 2025, according to the PwC Ghana Banking Survey 2026.

GCB’s share of industry deposits rose to 12.37 per cent in 2025, up from 10.86 per cent in 2023, although slightly below the 12.99 per cent recorded in 2024. Ecobank Ghana, which led the market in 2024 with a 14.33 per cent share, saw its position fall to 10.52 per cent in 2025.

The shift puts GCB at the top of the deposit market, ahead of Ecobank and Stanbic Bank Ghana (SBG), which ranked third with a 7.80 per cent share.

The figures are contained in the PwC Ghana Banking Survey 2026, which provides an overview of developments and performance in Ghana’s banking sector.

The latest ranking marks a notable change from the previous year, when Ecobank held the largest share of industry deposits. GCB’s 2025 position also represents a return to the top spot after the bank ranked second in 2024.

Deposit mobilisation expands

The change in rankings comes against a significant expansion in deposits across the banking industry.

According to the survey, industry deposits increased by 25 per cent in 2025, rising from GH¢266.5 billion to GH¢334.3 billion.

PwC 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 growth was recorded across the major deposit categories.

Current account balances increased by 15.8 per cent to GH¢184.9 billion, reflecting increased transaction banking activity.

Time deposits recorded a much stronger growth of 56.8 per cent, reaching GH¢49.2 billion, while call deposits rose by 37.5 per cent to GH¢16.7 billion.

The survey attributed the increase in time and call deposits partly to customers responding to attractive fixed-term investment products.

GCB, Ecobank and Stanbic dominate

Despite increased competition, the deposit market remains concentrated among the largest banks.

GCB, Ecobank and Stanbic together accounted for approximately 30.7 per cent of total industry deposits in 2025.

The three banks have extensive branch networks and established retail and corporate banking operations, complemented by digital banking platforms.

GCB's 12.37 per cent share translates into an estimated GH¢41.3 billion of the industry's GH¢334.3 billion deposits, while Ecobank's 10.52 per cent represents approximately GH¢35.2 billion, based on the industry total.

The figures underscore the scale of competition for deposits as banks seek to strengthen liquidity, expand their customer bases and support lending and other financial services.

Other banks record gains

The survey also highlighted significant movements among other banks.

OmniBSIC Bank (OBL) recorded one of the strongest improvements, increasing its deposit market share from 3.15 per cent in 2024 to 6.02 per cent in 2025.

The increase moved OBL from 13th position in 2024 to fifth in 2025, with PwC attributing the performance to focused customer acquisition and growth in retail and SME deposits.

Zenith Bank Ghana (ZBL) also increased its market share from 5.91 per cent to 6.27 per cent, supported by targeted deposit mobilisation and digital banking initiatives.

First Atlantic Bank (FABL) improved its share from 4.36 per cent to 4.98 per cent, which the survey linked to customer retention and enhanced business banking offerings.

The latest figures point to a banking industry in which stronger deposit growth is being accompanied by shifts in market share, as established banks compete with smaller and mid-sized institutions for retail, corporate and SME customers.