Ecobank remains Ghana’s top Tier-1 bank with capital of $228m

Ecobank Ghana remains the largest bank in Ghana. It has a Tier-1 capital of $228 million as of 2024. This information comes from The Banker’s Top 100 African Banks for 2024.

Access Bank Ghana is in second place with $216 million. GCB Bank follows closely with $212 million. Standard Chartered Bank Ghana ranks fourth with $168 million.

In Africa, Ecobank Ghana is ranked 88th. Absa Ghana, GCB Bank, and Standard Chartered Bank are ranked 92nd, 95th, and 100th respectively.

The report shows that Ghana's top banks have strong Tier-1 capital positions. They have managed to maintain stability despite economic challenges and currency depreciation.

The report states that the top four banks—GCB Bank, Ecobank Ghana, Standard Chartered Bank, and Absa Bank—have shown resilience. Their ability to handle currency fluctuations has helped sustain confidence in the financial sector.

Ecobank Ghana focuses on corporate and SME lending to boost revenue. This strategy has been effective even amid currency pressures.

Absa Bank also maintains a healthy capital position while navigating economic challenges in Ghana. GCB Bank benefits from a diversified portfolio and a focus on digital banking.

Across Africa, profitability among ranked banks remains strong at an aggregate pre-tax profit of 18.2%. However, local currency depreciation has affected balance sheets significantly.

Fifty-two institutions saw a decrease in asset bases. Forty-one recorded declines in Tier-1 capital due to these challenges.

South African banks make up 40% of Africa’s Top 100 banks' total asset base. They have been particularly impacted by economic stagnation and a weakening rand.

The Banker’s Top 100 African Banks for 2024 offers insights into financial institutions across the continent.