Banks in Ghana

Banks and Saving banks in Ghana

Ghana's banking system has been the tool former governments have used to develop the economy. Talking about banking institutions, the Bank of Ghana is the central bank in the country, and it is the ruler of the system, following international norms.


In the past, banks only worked for a few elite, and their functions were just investing in banks. Now this situation has changed and now banks are open to everyone, meaning they have new products and poor people in Ghana can also have their money in banks.  Almost 10% of the population have their money in those commercial banks.


Banks have become more efficient and competitive, the financial system now is more diversified than before since it has 26 banks operating in the country. Half of them are controlled by Ghanaians, and the other 50% are foreign; Nigeria has one of the strongests and the largest sectors in Africa (Access Bank Ghana, for example, is a Nigerian Bank with branches in the country). Agricultural Development Bank of Ghana, CAL Bank, Barclays Bank or Bank of Africa are examples of banks operating in the country. That landscape of an increasing banking system has made it more competitive, and concentration of assets in few banks is declining year after year.

News related with Ghana Banks

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Gemalto To Provide Ghana Central Bank With PURE Payment ... - Proshare Nigeria Limited (press release)

... Central Bank With PURE Payment ...Proshare Nigeria Limited (press release)Digital security provider Gemalto is providing its PURE white-label payment solution to Ghana Interbank Payment and Settlement Systems, a subsidiary of Ghana's central bank that manages the country's inte...


Banks maintain average interest on loans for 3rd consecutive time - Citifmonline

... consecutive timeCitifmonlineThe average interest rate at which commercial banks lend to their customers remained unchanged at 25.7% in December 2017. This is the third consecutive time that the base rates have been kept unchanged at 25.7 percent. The base rate is the lowest rate...


Bank of Ghana annual percentage rates for December 25.7 percent - GhanaWeb

... annual percentage rates for December 25.7 percentGhanaWebThe Bank of Ghana has released its latest data on Annual Percentage Rates (AP...


BOG rules out reviewing new capital requirement of GHC400m ... - GhanaWeb

... of Ghana has ruled out reviewing the new capital requirement of GH¢400 million, directing banks that cannot recapitalize to opt for a lower license. Commercial banks in the country are expected to by the end of December 2018 increase their stated ...and more »...


BoG calls on banks to improve risk management system - Ghana News Agency

... Jan. 17, GNA, - The Bank of Ghana has called on banks to improve on the quality of their risk management system, corporate governance and internal control practices. Mrs Grace Akrofi, the Special Advisor to the Governor, said with the ......


The Royal Bank launches 5th-anniversary celebrations - GhanaWeb

... launches 5th-anniversary celebrationsGhanaWebThe Royal Bank, one of Ghana's leading indigenous banks has launched its 5th-anni...



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