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The Traditional Commercial Banking market in Ghana has been experiencing significant growth and development in recent years.
Customer preferences: Customers in Ghana are increasingly turning to traditional commercial banks for their financial needs due to a growing trust in established banking institutions. The preference for face-to-face interactions and personalized services offered by traditional banks continues to drive customers to choose these institutions over digital-only alternatives.
Trends in the market: One notable trend in the Traditional Commercial Banking market in Ghana is the expansion of branch networks to rural areas. Traditional banks are focusing on financial inclusion by reaching the unbanked population in remote regions, offering basic banking services and promoting financial literacy. This trend is driven by government initiatives to improve access to financial services across the country.
Local special circumstances: Ghana's regulatory environment plays a crucial role in shaping the Traditional Commercial Banking market. The Bank of Ghana, as the central regulatory authority, sets the guidelines and standards for banking operations in the country. Compliance with regulatory requirements and capital adequacy ratios are key considerations for traditional banks operating in Ghana.
Underlying macroeconomic factors: The stable economic growth and increasing GDP in Ghana have contributed to the development of the Traditional Commercial Banking market. As the economy continues to expand, there is a growing demand for banking services, including loans for businesses and individuals. Additionally, the government's focus on infrastructure development and industrialization projects has created opportunities for traditional banks to finance these initiatives and support economic growth.
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)