Ecobank, GCB, Stanbic, Stanchart, and Barclays Bank Ghana (Tier one banks) have witnessed a further decline in their market share to 38.8 per cent at the end of September 2015.
At the end of March 2015, these banks controlled 39 per cent of the market but the latest Banking Performance Report by the Bank of Ghana (BoG) indicates that they are gradually losing some of their markets to competition.
In September 2007, the tier one banks controlled 55.3 per cent of the banking industry but have since witnessed a reduction in the market shares with the exception of March 2013 that their market shares went up.
In March 2007, these banks’ share of the market was 56.3 per cent while in March 2008 and March 2009 their market shares were 55.6 and 51.8 per cent respectively. Their share reduced further in March 2010 and 2011 to 48.9 and 46.1 per cent respectively.
Since its acquisition of TTB in 2011, Ecobank Ghana has maintained its lead as the biggest bank in Ghana, a survey conducted by accounting professionals, pwc stated.
It controlled 14 percent of the industry’s market share with respect to deposits in 2013 followed by GCB with about 10 per cent of the total industry’s deposits.
Africa’s largest bank, Standard Bank’s subsidiary, Stanbic Bank made aggressive strides in its 15 years of operations in the banking industry, holding on to the third largest share of the industry deposits with 9.3 per cent of the market.
Zenith and Fidelity moved a step further to join the tier one banking category controlling about 4 and 5.4 per cent respectively of the market share.
Stanchart and Barclays which have now dropped to fourth and fifth largest banks in Ghana had 8.3 and 6.6 per cent of the market share respectively.
Tier two banks, UBA, ADB, CAL, UT, uniBank and NIB controlled 5.0, 4.0, 3.2, 4.0, 4.1 and 3.0 per cent of deposits in the industry respectively.
SG Ghana, HFC, Access, GTB, Prudential formed the tier three banks. They controlled 3.2, 2.7, 2.6, 2.3 and 1.7 per cent respectively of the industry’s share of deposits.
Capital Bank, First Atlantic Bank, ICB, Royal Bank, Energy Bank, Sahel Sahara and Bank of Baroda formed the tier four banks. They controlled 1.4, 1.2, 0.9, 0.7, 0.7, 0.6 and 0.4 per cent of total deposits respectively.
According to pwc, the market share of the industry’s deposits has not changed significantly because there is limited differentiation in the products offered by banks to give any bank a strong edge over the others.
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