This makes gcb the richest bank in ghana in terms of its assets. By the end of 2008, 127 rcbs were in operation with a total 584 service outlets. The government did not nationalise the two foreign owned banksbarclays bank and standard chartered bank scbwhich had been established in ghana during the colonial period, but it did acquire 40 per cent equity stakes in the banks following an indigenisation decree enacted in 1975 which was applied to all large scale industries. Bank of ghana bog the central bank of ghana established on the 4th march 1957.
Among the latest to join the list is jp morgan, one of the biggest banks in the usa. It offers bank accounts including revolutionary uba cashless account without an initial deposit, individual and corporate current and savings accounts, student savings and ugold accounts, personal loans, mortgages, visa cards, money transfer, online banking as well as. Jan 24, 2010 the bank of ghana has licensed 26 banks to operate in the country as at june 2009, the list accessed by from the website of the central bank also includes the bank. Public disclosure authorized building inclusive payment. The central bank of ghana is the major shareholder 51% of ghib. A number of foreign banks are racing into the country to catch up with their major clients, most of whom are currently doing business in ghana. Let us know if you face any issues with them concerning your account. Growth and innovation in african retail banking mckinsey. It aims to provide general information on ghanas formal banking sector and the performance of banks operating in the country for the period between 2007 and 2009.
Nigeria, kenya, uganda, and south africa also registered significant growth in mobile money transactions diniz, albuquerque and cerney, 2011. A conceptual model was developed using the balanced scorecard. United bank for africa ghana banks around the world. Bank of africa started operations in ghana in 2011 after bank of africa group acquired a majority interest in amalgamated bank. Emerging developments in the banking industry of ghana. Equatorial guinea, gabon, ghana, guinea conakry, guineabissau, kenya, liberia, malawi. Ghana 1st time online late december 2000, and updated since 2001. The marked increase in mobile money usage is not unique to ghana. A descriptive correlation survey was employed in the study. It aims to provide general information on ghanas formal banking sector and the performance of banks operating in. Business and management submitted by joseachel words 1456 pages 6.
Personal banking pricing guide 4 march 2019 page 10 fees platinum cheque gold cheque gh 25. The regulatory and supervisor y areas of the bankin g sector have been a cknowledged to be poor and have led to many difficult ies encountered by the banking system popiel, 1994. Sep 02, 2017 now, you know the list of banks in ghana, please let us know which bank you save in ghana. Gn bank, students loan trust sign pact graphic online. List of the richest banks that operate in ghana yen. Ghana commercial bank has 160 branches and more than 205 atms. Pdf improving customer service in the banking industrycase. The bank was established in 2006 and is owned by ghanaian and foreign investors including adb and ssnit. This stemmed from mismanagement and unavailability of the stated capitals. The bank of ghanas operational manual for rural banks, 1985.
A discussion of the top 10 biggest banks in ghana cannot be complete without mentioning. Most of the banks are now offering a wide range of investment products and services to their clients including foreign accounts services. United bank for africa ghana limited is a universal bank providing a wide range of financial products and services in ghana. It is one of the commercial banks licensed by bank of ghana, the central bank of ghana, and the national banking regulator. Even though traditional banking and interest income constitute a major aspect of the banking business and source of bank revenue in ghana, there are concerns about banks. Barclays bank is one of the oldest banks in the country having been present in ghana for more than 90 years.
From a handful of banks in the 1990s, ghana now boasts with 32 universal commercials, which are in competition for continue. Data were collected through handadministered survey questionnaires from the universal banks in ghana where samples from executives were analysed through partial least squares structural equation modelling plssem. Banks in ghana overview, guide to top 10 banks in ghana. Bank of africa ghana limited, also referred to as boa ghana, is a commercial bank in ghana. The bank of ghana in 2016 reported that mobile money volume of transactions registered a growth rate of 737. Business intelligence systems and bank performance in. List of banks in ghana complete list website ghana. Cameroonweb en camerounweb fr mahama causes stir in kumasi. Customer satisfaction with retail banking services in ghana.
Come browse our large digital warehouse of free sample essays. Ghana pricing guide june 2017 7 foreign exchange account the foreign exchange account is designed for business foreign exchange account customers who receive income in foreign currencies. Nonbank financial institutions business bog rules, 2000. The number of banks in ghana to reach 37 news ghana. News ghana is ghanas leading online news portal for business in west africa and around the world. Pdf impact of financial reforms on the banking system in ghana. Arb apex bank a mini central bank in ghana for the ruralcommunity banks. Agricultural development bank adb commercial banks. The bank of ghana has licensed 26 banks to operate in the country as at june 2009, the list accessed by from the website of the central bank also includes the bank. General news in ghana, politics, health, crime and more. Even before the new regulations were adopted, mobile money had already. The bank of ghana abbreviated as bog is the central bank of ghana. Cdc is working with the ghana health service and the national neglected tropical diseases program to develop and implement a postmass drug administration.
These banks are licensed by the bank of ghana to operate in ghana. List of banks in accra companies and services in ghana. News ghana latest updates and breaking news of ghana. Overview of the banking industry the banking system as at end march 2016 comprises the bank of ghana, 29 universal banks excluding arb apex bank which is a minicentral bank for rural banks, 9 rural and community banks, 61 nbfis, and 555 mfis. Fidelity bank has its headquarters in accra with over 43 branches all over the prime locations in ghana. This commercial bank was established in 2006 and is a fully licensed bank of ghana. Questionnaire was the main instrument used to gather the data for the current study. Relationship between organisational commitment and. Per the partnership, the bank has joined banks such as the national investment bank nib, gcb bank and ecobank ghana limited to receive student loan repayment nationwide. Now, you know the list of banks in ghana, please let us know which bank you save in ghana. This page provides ghana central bank balance sheet. Pdf impact of financial reforms on the banking system in. The bank is active in developing financial inclusion policy and is a member of the alliance for financial inclusion.
Electronic banking is the automated delivery of new and traditional banking. This account is funded locally with foreign exchange generated from activities within ghana, transfers from outside ghana or. Personal banking pricing guide first national bank. Ghana association of bankers risk management in well. Apr 28, 2015 this list contains over 40 banks in ghana the bank of ghana is the central bank of ghana abii national access bank ghana adb bank limited agricultural development bank of ghana arb apex bank bank of africa ghana limited bank of baroda ghana limited banque sahelosaharienne pour linvestissement et le commerce bsic barclays bank of. The number of banks in ghana has increased to 32, sovereign bank and premium bank the latest to join. Get the knowledge you need in order to pass your classes and more. First atlantic merchant bank famb a commercial bank in ghana. On microfinance and the new microfinance handbook financial services help to smooth cash flows, build assets, invest productively, and, importantly, manage risks. Pdf abstract the introductions of electronic banking products and services. Read this essay on the role of rural banks in ghana. But after revising its approach to regulation and passing emoney issuer guidelines in 2015, the country saw dramatic growth in the adoption of dfs. The mismanagement of funds and illegal use of the stated capitals of ut bank and capital bank prompted bog to further look. Bank of ghana lists 26 banks as licensed ghana business news.
Business intelligence systems and bank performance in ghana. The number of banks in ghana stood at 26 as at december, 2012 and the value of the industrys total assets stood at gh 27. Bank of ghana was established after ghanas independence in 1957. Africas banking markets are among the most ex citing in the. Registered offices in ghana june 2016 class 1 banks in ghana. It has secured license from the bank of ghana bog to open a representative office in the country. Pdf recapitalization of banks has been a topic of discussion. Banks in ghana banking business in ghana hit the 100th milestone a few years ago, the first bank the bank of west africa having been established in 1894. Governments policies then were geared towards development on all fronts, especially in agriculture at a time when funding support from government or the private sector was inadequate. African banks generally have more manual pro cesses. News ghana is ghana s leading online news portal for business in west africa and around the world. Ghana international bank plc ghib was established in 1959 and is based in london, uk. Fidelity bank one of the 27 licensed commercial banks in the country.
The role of banks in the ghanaian economy modern ghana. This years survey, a buildup on last years survey, is premised on the wider banking sector reforms being driven by bog with an overarching objective of modernising and strengthening the banking sector to adequately support economic growth and transformation. Banks in ghana list of all banks in ghana with office. Ever since, the industry has grown in size and structure to become in rennet times one of the most advanced in the west african subregion. The use of mobile money did not have much uptake in ghana in the early years of the first deployments. Official pdf, 51 pages world bank documents world bank group. In 2018, the bank of ghana bog started an exercise to clean up and strengthen the financial sector. A regional commercial bank operating in many african countries. The bank of ghana bog is the central bank of ghana. Established in 1917, barclays bank ghana is a subsidiary of south africabased barclays africa group ltd. The main purpose of the study is to find the relationship between the bank of ghana base rate and the commercial banks lending rate, the relationship that. Nonbank financial institutions business bog rules, 2000 as applicable to deposit taking institutions preamble the bank of ghana the bank, being satisfied that in the public interest and for the purpose of securing and promoting the proper functioning of the nonbank financial institutions licensed by it under section 41 of the financial. It is also one of the banks in ghana providing mobile banking and realtime internet banking services.
Increasing the outreach of financial services that are affordable and meet the varied needs of. They found that customers of merchant bank of ghana. At december 2011, fidelity had total assets of ghs 1. Barclays bank of ghana is the franchise of the bank headquarted in the uk. In the early 1990s, the banking system in cluded the central bank the b ank of ghana, three large commercial banks ghana commercial bank, barclay s bank of ghana, and standard chart ered bank. It operates a network of nearly 60 branches and 155 atms throughout the country. Thats why we focus everything we do on providing the highest level of excellence in financial services. One of the key indicators of a booming economy is a vibrant small and medium enterprises smes subeconomy and how well they contribute to gdp. We know how important your financial transactions are to you. Biggest banks in ghana licensed stock photo via deposit photos access bank ghana limited.
Barclays bank of ghana the fifth largest bank in ghana. First national bank will notify you if charges apply. This report ghana banking survey 2010 is a joint collaboration of pricewaterhousecoopers pwc and the ghana association of bankers gab. Bank of africa ghana a commercial bank in ghana offering a wide array of banking products and services including retail, corporate and sme banking.
Mses than unorganized which support the theory of ne gative marginal. North, east, and west africa will gain revenue share at south africas. The perspective of kumawuman rural bank limited customers chapter 1 chapter 1 1. The economy of ghana is projected to grow by 8% in 20 and 8. A total of 206 employees were randomly selected from. Banks in accra ghana list of ghana banks in accra companies. Excellence in ghana, and supporting local institutions to create high quality malaria slide banks for training and quality assurance. In ghana, the bulk of smes are within the services sector, particularly hotels, restaurants, transport and storage.
188 35 1283 887 1601 1073 1391 1429 1036 606 1600 907 506 217 865 1488 976 1550 1173 1565 1116 1659 404 566 1644 434 1315 802 430 1497 1311 754 1240 438 1245 1324 50 787 973 1166 635 295 193