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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)
Key regions: Germany, United Kingdom, France, Japan, China
The Traditional Banks market in Ghana has been experiencing significant developments and trends in recent years.
Customer preferences: Customers in Ghana are increasingly seeking personalized banking services, leading traditional banks to focus on enhancing customer experience through digital channels and innovative products. The demand for convenient and efficient banking solutions is driving the adoption of online and mobile banking services among customers.
Trends in the market: One noticeable trend in the Traditional Banks market in Ghana is the expansion of branch networks to reach unbanked populations in rural areas. Traditional banks are also investing in technology to streamline operations and improve service delivery. Additionally, partnerships with fintech companies are becoming more common as banks look to leverage technology to offer a wider range of financial products and services.
Local special circumstances: Ghana's banking sector has been undergoing reforms to strengthen the financial system and improve regulatory oversight. The Bank of Ghana's efforts to enhance governance and risk management practices in the banking industry are shaping the strategies of traditional banks in the country. Moreover, the increasing competition from non-bank financial institutions is prompting traditional banks to innovate and differentiate their offerings to remain competitive.
Underlying macroeconomic factors: The macroeconomic environment in Ghana, including economic growth, inflation rates, and regulatory policies, plays a significant role in shaping the Traditional Banks market. Factors such as GDP growth, interest rates, and foreign exchange stability influence the performance and profitability of traditional banks in the country. As Ghana's economy continues to grow, traditional banks are presented with opportunities to expand their market presence and increase their customer base.
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)