Who are the best banks in Ghana based on their financial performance for the year ending 2020?
The following are conclusions drawn by analysts from Tesah Capital, one of Ghana’s top investment firms, after conducting an analysis of data from the Bank of Ghana, Financial statements of the banks, and Annual Reports for 2020 from all 23 banks in Ghana, except NIB Bank and OmniBSIC.
Methodology
The bank performance evaluation rankings were based on the financial statements released by the banks for FY 2020. The rankings focused on 21 out of the 23 commercial banks in Ghana, as the financials of OMNIBSIC and National Investment Bank were unavailable at the time of the analysis.
The rankings emanated from an assessment of the creditworthiness and performance of the banks using the CAMEL framework ie; capital adequacy, assets size, management capability, earnings, and liquidity.
Zenith Bank, Standard Chartered Bank, and EcoBank Ghana were the top 3 banks with strong performances in the year under review. On the contrary, First Bank of Nigeria, Universal Merchant Bank, and Prudential Bank were the least ranked banks based on the CAMEL components.
2020 Performance Evaluation and Ranking of Banks in Ghana
The following table gives you the best banks in Ghana for 2020 and their rankings for 2019
| Bank | Score | 2020 | 2019 |
|---|---|---|---|
| Zenith Bank | 1.10 | 1 | 1 |
| Standard Chartered Bank | 1.35 | 2 | 5 |
| Ecobank Ghana | 1.55 | 3 | 2 |
| GCB Bank | 1.65 | 4 | 4 |
| Fidelity Bank | 1.75 | 5 | 7 |
| Guaranty Trust Bank | 1.80 | 6 | 6 |
| Access Bank | 2.15 | 7 | 12 |
| Stanbic Bank Ghana | 2.15 | 8 | 9 |
| Absa | 2.35 | 9 | 8 |
| Consolidated Bank Ghana | 2.55 | 10 | 10 |
| CAL Bank | 2.65 | 11 | 2 |
| Société Générale Bank Ghana | 2.65 | 11 | 15 |
| First Atlantic Bank Ghana | 3.00 | 13 | 18 |
| Agricultural Development Bank | 3.10 | 14 | 17 |
| Republic Bank Ghana | 3.15 | 15 | 11 |
| United Bank of Africa | 3.40 | 16 | 13 |
| First National Bank | 3.45 | 17 | 16 |
| Bank of Africa | 3.55 | 18 | 14 |
| First Bank of Nigeria | 3.70 | 19 | 20 |
| Universal Merchant Bank | 3.90 | 20 | 19 |
| Prudential Bank | 4.06 | 21 | 21 |
| OmniBSIC | N/A | N/A | N/A |
| National Investment Bank | N/A | N/A | N/A |
Best Banks in Ghana 2020 – Loans
The following table gives you data on the best banks in Ghana by market share of total loans in 2020
| Banks | Market share (%) |
| Ecobank Ghana | 10.4 |
| Absa | 9.9 |
| Stanbic | 9.2 |
| GCB Bank | 8.0 |
| Societe Generale | 5.4 |
| Fidelity | 5.1 |
| CAL | 5.0 |
| ADB | 4.0 |
| Prudential | 3.6 |
| Standard Chartered Bank | 3.6 |
Best Bank in Ghana 2020 – Deposits
The following table gives you data on the best banks in Ghana by market share of total deposits in 2020
| Banks | Market share (%) |
| Ecobank Ghana | 12.4 |
| GCB Bank | 11.5 |
| Stanbic | 9.7 |
| Absa | 6.6 |
| Consolidated Bank Ghana | 6.6 |
| Fidelity | 6.3 |
| Standard Chartered Bank | 5.6 |
| Zenith | 5.6 |
| CAL | 4.3 |
| ADB | 4.1 |
| Others | 27.2 |
Note:
YellGh has published this datasheet purely for information purposes only. Analysts from Tesah Capital state that information contained in this datasheet were obtained from their internal and external sources which they consider reliable, but they have not verified such information independently, and do not guarantee its accuracy or completeness.
Data Source: Banks of Ghana, Annual Report Ghana
