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Mon - Fri, 9am - 6pm (EST)
Key regions: United States, China, Japan, Brazil, United Kingdom
The Banking market in Ghana has been experiencing significant growth and development in recent years.
Customer preferences: Customers in Ghana are increasingly looking for more convenient and accessible banking services, leading to a rise in digital banking solutions. Mobile banking and online platforms have become increasingly popular among Ghanaians, driving the demand for more tech-savvy banking options.
Trends in the market: One of the key trends in the Ghanaian banking market is the increasing competition among banks to offer innovative products and services. This trend is driven by the growing demand for personalized banking solutions and the need to stay ahead in a competitive market. Additionally, there has been a noticeable shift towards sustainable banking practices, with more banks in Ghana incorporating environmental and social factors into their business strategies.
Local special circumstances: Ghana's banking market is also influenced by local regulations and policies set by the Bank of Ghana. These regulations play a crucial role in shaping the competitive landscape of the market and ensuring the stability of the banking sector. Moreover, the country's unique demographic and economic factors, such as a young and tech-savvy population, contribute to the specific trends observed in the banking market.
Underlying macroeconomic factors: The growth of the banking market in Ghana can be attributed to several macroeconomic factors, including the overall economic stability of the country and the government's efforts to promote financial inclusion. Ghana's stable economic growth and increasing GDP per capita have created a conducive environment for the banking sector to thrive. Additionally, initiatives to improve access to financial services in rural and underserved areas have helped drive the expansion of the banking market in the country.
Data coverage:
Data encompasses B2B and B2C enterprises. Figures are based on Net Interest Income, Bank Account Penetration rate, the value of Deposits, the number of depositors, the value of Loans, the number of borrowers, Credit Card Interest Income, the number of ATMs as well as the number of Bank Branches.Modeling approach / Market size:
Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data provided by the IMF, World Bank and the annual reports of the top 1000 Banks by asset size. Next we use relevant key market indicators and data from country-specific associations such as GDP, deposit interest rates, lending interest rates or bank account penetration rates. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast financial services for digital as well as traditional products and services.Additional Notes:
The market is updated twice per year in case market dynamics change.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)