GCB Bank Reclaims Top Spot as Ghana’s Largest Bank by Deposits

GCB Bank has taken back its position as the bank with the highest share of customer deposits in Ghana, pushing Ecobank Ghana into second place in 2025.

This is according to the newly released PwC Ghana Banking Survey 2026, which tracks performance across the country’s banking sector.

GCB back on top

GCB’s share of total industry deposits climbed to 12.37 per cent in 2025, up from 10.86 per cent in 2023. This figure is slightly lower than the 12.99 per cent the bank recorded in 2024, but still enough to return it to the number one position.

Ecobank Ghana, which topped the rankings in 2024 with a 14.33 per cent share, dropped to 10.52 per cent in 2025, placing it second on the list.

Stanbic Bank Ghana held on to third place with a 7.80 per cent share of the deposit market.

For GCB, this marks a comeback to the top after slipping to second position in 2024.

Deposits grow sharply across the industry

The rankings shake-up comes at a time when the entire banking industry has seen a big jump in deposits.

Industry-wide deposits rose by 25 per cent in 2025, climbing from GH¢266.5 billion to GH¢334.3 billion.

PwC says the growth was driven by improved macroeconomic stability and stronger confidence among customers, helped along by banks expanding their branch and agency networks and more people adopting digital banking.

Breaking down the numbers:

– Current account balances grew by 15.8 per cent to GH¢184.9 billion

– Time deposits jumped by 56.8 per cent to GH¢49.2 billion

– Call deposits increased by 37.5 per cent to GH¢16.7 billion

According to the survey, the strong growth in time and call deposits was partly due to customers taking advantage of attractive fixed-term investment products on offer.

Big three still dominate

Even with growing competition in the sector, deposits remain heavily concentrated among the top banks.

GCB, Ecobank and Stanbic together held about 30.7 per cent of all industry deposits in 2025. All three banks have wide branch networks and well-established retail and corporate banking businesses, backed by digital platforms.

In cedi terms, GCB’s market share translates to roughly GH¢41.3 billion out of the industry’s GH¢334.3 billion in deposits, while Ecobank’s share works out to about GH¢35.2 billion.

Other banks make notable gains

The survey also pointed to strong movement further down the rankings.

OmniBSIC Bank posted one of the biggest improvements in the industry, with its deposit market share rising from 3.15 per cent in 2024 to 6.02 per cent in 2025. This jump moved the bank from 13th to 5th position. PwC credits this to the bank’s focused push to acquire new customers and grow its retail and SME deposit base.

Zenith Bank Ghana also grew its market share, from 5.91 per cent to 6.27 per cent, helped by targeted deposit mobilisation efforts and digital banking initiatives.

First Atlantic Bank saw its share rise from 4.36 per cent to 4.98 per cent, which PwC attributes to strong customer retention and improved business banking products.

What it means

The findings paint a picture of a banking sector where deposit growth is strong across the board, but where the competition for those deposits is intensifying — with established players like GCB, Ecobank and Stanbic still fighting off pressure from smaller and mid-sized banks chasing retail, corporate and SME customers.