Banking has become one of the biggest necessities of the 21st century and Ghana is no stranger to that trend. Currently, there are a number of prestigious banks in Ghana that are offering a more efficient and stress-free banking experience.
If you want to have a relaxed and worry-free experience, these are the Top 5 reliable banking Institutions in Ghana.
Most reliable Banks in Ghana
Aside from the safe-keeping of funds of customers, banks in Ghana have evolved to the point where they are also competent in carrying out other functions such as money transfer to other customers of the bank or to other banks, payment of fees for services and goods. These functions have made banks necessities and indispensable in today’s world.
Ghana Commercial Bank (GCB)
The Ghana Commercial Bank, formerly Bank of Gold Coast, has been operational since 1953. The bank was created to provide banking services to salaried workers through small and medium scale entrepreneurs to large trading concerns, quasi-governmental institutions and corporate customers and the emerging nation for socio-economic development.
The Bank currently has over 150 branches and 11 agencies throughout the country, which in turn provide a wide range of products and services for the benefit of its customers.
From the traditional products of the Current/Savings Accounts, GCB now offers specialized products and services including Link2Home for Ghanaians resident abroad, doorstep cash collection, loans and overdrafts. There are also investment products like treasury bills as well as fixed and call deposits. These are cut to suit the individual needs of customers.
In addition, GCB has taken advantage of an enhanced information technology system, to introduce Internet Banking (Commernet Plus), Royal Banking, Smart Pay (Fee Payments), GCB Inland Express Money Transfer, International Money Remittance Payments, and MasterCard services. All these have been done to increase profits and enhance shareholder value. It is no surprise that the Ghana Commercial Bank is the largest Bank in terms of total operating assets and share of total industry deposits.
ECOBANK is a pan-African bank which was established in 1985 with banking operations existing in 36 African countries. It has been operational since 1990 and is one of the many commercial banks licensed by the Bank of Ghana with 67 branches across the nation.
The bank was started by the Federation of West African Chambers of Commerce and Industry and with the support of the Economic Community of West African States (ECOWAS). It was started to improve and make inter-African trade and business more fluid, convenient and secure.
The bank operates with a goal of achieving optimum customer satisfaction thus, has designed products and services that target customer needs and wants including: Visa card transactions, convenient loan systems, insurance schemes, money transfers across Africa and the globe, investment solutions, E- products and micro-finance packages.
Ecobank has a reputation for being the ‘peoples’ bank’ because of the ease at which international money transfers are made especially within Africa. Currently, the ECOBANK Mobile App has become a hit in Ghana and has become the favourite among the working class who use it for their convenience. You can download it and create a bank account with the bank in a few simple steps.
Absa Bank Ghana Limited
Absa bank formerly known as The Barclays bank is a commercial bank in Ghana, licensed by the Bank of Ghana, the country’s central bank and national banking regulator.
The bank has 56 branches across the country and boasts a human resource of 4000 trained employees to provide quality customer services. Absa bank offers clients a range of retail, business, corporate and investment, e-banking and wealth management solutions. The bank also has 160 automated teller machines (ATM). Below is the financial report of the bank over the last few years for your perusal. This should give you a guide over the bank’s operating efficiency.
- Total assets: GH¢12.70 billion (3rd Quarter, 2020), GH¢11.77 billion (2019), GH¢8.99 billion (2018).
- Operating income: GH¢1.02 billion (3rd Quarter, 2020), GH¢1.16 billion (2019), GH¢952 million (2018).
- Profit after tax: GH¢340 million (3rd Quarter, 2020) GH¢468 million (2019). GH¢389 million (2018).
Absa was formed by a series of mergers and acquisitions. Later, Barclays Africa Group Limited – the branch of Barclays that dealt with business in the African continent acquired Absa in 2005. By the end of December 2017, Barclays PLC had reduced its shares in Barclays Africa Group to 14.9% which brought about some changes which included the change of name from Barclays Africa Group Limited to Absa across all their operations.
Republic Bank Ghana PLC
Republic bank formerly known as HFC Bank (Ghana) Limited, is a leading Universal Banking Institution in Ghana and arguably the most diversified Financial Institution. Their services include Corporate, Commercial and Retail Banking; Investment Banking; Mortgage Banking and Microfinance.
The bank has a total of 28 branches spread across the country. They came from humble beginnings as they started as a non-bank financial company and then became an authorized bank in 2003 after 9 years of operations in Ghana. Due to their rich experience in Ghana’s mortgage industry, they have added that function to their banking duties as a value added for customers who are planning to own a property in Ghana.
Since inception in 2005, the Zenith bank has been synonymous with cutting edge ICT platforms, passionate innovative staff and devotion to the development of top of the range products and services to meet customer needs. The Bank’s main service delivery channels include thirty-eight (38) business locations (branches and agencies) as well as numerous ATMs and Point of Sale terminals strategically located in various cities and towns across Ghana.
Zenith also offers real-time internet and mobile banking which enables customers to access banking services on-the-go as well as quality insurance products to cover your needs. Zenith Bank also has loyalty programs to reward customers and make their experiences worthwhile.
All the above-mentioned banks have been consistently delivering quality service to their customers and so has Green Views Apartments – the organization that has quality service delivery as its hallmark. As a company, we like to stay at the top of our game, featuring the most prestigious institutions and corporations that make Ghana a better and stronger country everyday.