Going into banking in Ghana is quite safe and the availability of banks in Ghana in 2020 aided the economic activities of Ghanaians throughout the year since people do not have to carry large sums of money around in order to make purchases.
According to the Bank of Ghana’s report, banks that will be listed in this article are legitimate and your finances are in safe hands if you decide to work with them in any capacity.
For Ghanaian banks, there are sets of rules that keep them in check in the financial sector and that includes the licenses they acquire and the starting balance which is popular among us as a minimum balance.
While I take the pain of bringing you a certified list of all legitimate banks in Ghana in the year 2020, I will urge you to start some personal search on them before going for their services.
This when you do will give you more insights into their very existence by exposing you to the account they hold, the interest rates on investments and loans as well as their operational structure.
List of Banks In Ghana 2020
In 2018, Ghana’s banking sector suffered some major setbacks as a result of the government of Ghana’s financial sector clean up which led to a loss of GHC21 billion.
Fast forward to 2020, things began to fall in place and the sector is beginning to light up again since the clean-up that the government has spent so much money on is yielding results.
The list of banks in Ghana 2020 includes;
- Guarantee Trust Bank (GT Bank)
- Fidelity Bank
- ABSA Bank
- Consolidated Bank
- Access Bank
- Agricultural Development Bank
- Ecobank Ghana
- First National Bank
- Stanbic Bank
- Bank of Africa
- Zenith Bank
- African Development Bank (AfDB)
- Universal Merchant Bank
- Societe Generale
- GCB Bank PLC
- Apex Banks (Rural Banks)
There are a lot of financial institutions in Ghana. However, many of them are not banks but rather credit unions and savings a loans firms. So to make a decision, first chose from the list above.
If you by any chance have questions, do well to reach out to us on the contact details provided on our contact page.