Best banks in Ghana: a comprehensive list of the most-reliable banks

Best banks in Ghana: a comprehensive list of the most-reliable banks

Banks are a vital part of the economy as they play several critical roles. They offer services for those who are looking to save some money and provide funds for businesses that wish to invest and expand. If you are looking for any of these services, it's crucial to know the best banks in Ghana.

Best banks in Ghana
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Source: UGC

The formal banking sector in Ghana comprises the central bank, commercial banks, development banks, merchant banks, and rural unit banks. The Bank of Ghana, which is the central bank, is responsible for implementing all the monetary policies in the country. The Ghanaian banking sector has seen steady growth and now consists of 28 private banks.

Best banks in Ghana

The definition of best, in this case, is relative since every person has their own opinion. This list of banks in Ghana includes some of the banks deemed to be the best by the Ghanaian people.

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1. Access Bank (Ghana)

Access Bank Ghana belongs to the more extensive Access Bank Group based in Lagos, Nigeria. The financial giant has set up shop in other parts of Africa, including East Africa, Central Africa, and West Africa.

2. ADB (Agricultural Development Bank)

ADB is one of the banks owned by Ghana's government, which controls slightly over half (52 percent) of the bank’s shares. The bank has been around since 1965 and has its headquarters in the country’s capital city Accra. As of 2011, ADB had assets worth over 684 million dollars under its belt.

3. CAL Bank

CAL Bank is a commercial bank that has been around since 1990. Financial experts and the public consider it one of the leading banks when it comes to innovativeness. As of 2012, CAL Banks boasted customer deposits worth 558 million GHS and total assets valued at 843 million GHS.

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4. Ecobank Ghana

Ecobank has almost every banking product and service. It operates under a workforce of around 900 people in 53 branches in Ghana. It also had deposits, loans, and total assets worth 1.68 billion, 843 million, and 2.1 billion GHS, respectively, as of 2011.

5. Fidelity Bank

Best banks in Ghana
Internet mobile banking and internet of things concept. Photo: @Virojt Changyencham
Source: Getty Images

Established in 2006, Fidelity Bank has grown to become a leading commercial bank in Ghana. The bank is under the ownership of foreign investors and recorded total assets worth over 1 billion GHS in 2011.

6. GCB (Ghana Commercial Bank)

GCB is the most prominent local financial institution in Ghana. It has more than 200 ATMs and 160 branches spread out throughout the country. In 2011, the bank recorded assets, deposits, and shareholder equity worth 2.5 billion, 2 billion, and 178 million GHS respectively.

7. FAB (First Atlantic Bank)

FAB is another Ghanaian commercial bank established in 1994. The bank’s headquarters are in the capital city, Accra. It was started in 1996 as a merchant bank, but it received international status in 2011 from the Bank of Ghana.

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8. Universal Merchant Bank

Formerly known as Merchant Bank Ghana, Universal Merchant Bank is a Ghanaian bank with 22 branches spread across the country. Universal Merchant Bank recorded total assets worth around 806 million GHS as of the end of 2010.

9. NIB (National Investment Bank)

NIB is one of the investment banks in Ghana that specializes in commercial and development banking. By the end of 2011, the bank had 879 million GHS worth of total assets stemming from its 27 branches found in different parts of Ghana.

10. Prudential Bank

Prudential Bank came into existence in 1993. By mid-2012, Prudential Bank had two agencies and 29 branches operating in various major Ghanaian towns such as Accra, Tamale, Cape Coast, Tamale, and Kumasi.

11. SG-SSB Limited

Formerly Social Security Bank (SSB), SG-SSB is one of the most prominent banks in Ghana, with more than 45 branches in Ghana. The bank runs as a subsidiary of Societe Generale Group and recorded deposits and total assets worth 625 million and 841 million GHS.

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12. GHIB (Ghana International Bank)

Best banks in Ghana
Bank Customers in Line. Photo: @Chuck Savage
Source: Getty Images

Established in 1959, GHIB targets Ghanaians in other countries by taking local services to them. The UK-based bank provides a bridge to local banks for its international customers. 51 percent of the bank’s stake is under the Central Bank of Ghana.

13. Stanbic Bank (Ghana)

Stanbic is one of the top banks in Ghana. When it comes to total assets, Stanbic ranks sixth. The bank is present in nine out of the ten regions of Ghana. It has more than 20 branches. Stanbic Bank Ghana is part of the extensive Standard Bank Group of South Africa.

14. Standard Chartered Bank

Standard Chartered Bank has been in operation in the Gold Coast since the late 19th century making it one of the oldest banks in Ghana. It is a subsidiary of the UK-based Standard Chartered PLC. It is one of the best international banks in Ghana.

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15. United Bank for Africa (Ghana)

This bank is a subsidiary of the Lagos-based United Bank for Africa PLC. The Ghanaian version of the United Bank for Africa started in 2005 and operates 32 ATMs and 24 branches spread across the country.

Which bank in Ghana is good for savings?

Zenith Bank is one of the top banks in Ghana that is the safest for keeping your money. They have one of the highest rates in the country, and there are no hidden fees.

What is the biggest bank in Ghana?

GCB Bank Limited is the largest bank in Ghana in terms of total operating assets and industry deposits. It has around 184 branches.

Finding the perfect banks in Ghana for your needs is the first step towards a great financial future. These banks have changed a lot of lives. You can be one of them. recently published an article on Famous International banks in Ghana. Less restrictive laws and requirements encourage more foreign financial institutions to invest in Ghana, thus increasing competition among financial institutions.

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International banks in Ghana have transformed many lives and businesses. Individuals and organizations are proud owners of lucrative assets because of these institutions’ easily accessible financial services.

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Ann Steffie avatar

Ann Steffie Ann Steffie is a content creator with 2+ years of working experience in the industry. She graduated from the Technical University of Kenya with a Bachelor’s Degree in Computer Science and Technology. She lives in Nairobi, Kenya and spends her free time pursuing her interests which include web development, artificial intelligence and machine learning. Email:

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