Top 5 Indigenous Ghanaian Banks In Ghana.

1. Ghana Commercial Bank (GCB)

In 1957, when Ghana attained independence, the Bank of Ghana was established as the Central Bank while the Bank of the Gold Coast was renamed Ghana Commercial Bank to focus solely on commercial banking services.

Ghana Commercial Bank as an indigenous bank has many shareholders with its largest shareholder being SNNIT with a percentage of 50.5 in 2016.

2. National Investment Bank (NIB)

Ghana’s first development bank is the National Investment Bank. Its main goal upon establishment in 1963 was to encourage fast industrialization across the board for the Ghanaian economy. The Bank has undergone management, institutional, and financial reform to carry out its mandate.

The national banking authority, the Bank of Ghana, has granted licenses to this particular indigenous commercial bank. The goal of NIB’s formation is to advance the nation’s industrialization across the board. 

3. Cal Bank

In 1990, CAL Bank opened for business as a local merchant bank with the exclusive goal of offering a genuinely unique, and the best banking solution. Before becoming CAL Merchant Bank Limited, the bank was known as Continental Acceptances Limited.

After obtaining its universal banking license, CalBank quickly started offering specialized retail banking services.

Social Security National Insurance Trust, is the largest stakeholder with 33.2%. At 27.7%, Arise, a financial holding company that was created by Norfund, FMO, and Rabobank, is the second-largest stakeholder. 

4. Consolidated Bank of Ghana (CBG)

The National Treasury holds 85.8% of the bank’s shares, making the government of Ghana the sole owner of the indigenous Consolidated Bank Ghana Limited.

A bank that arises from the combination of one or more banks, associations, savings banks, national banks, out-of-state banks, and other banks is referred to as a consolidated bank.

5. Fidelity Bank

The Bank is owned by Ghanaian individuals, other institutional investors, and its senior executives. 

In October 2006 Jim Baiden came together with Edward Effah and Thomas Svanikier, who were key shareholders to develop the transitional framework that led to the transformation and founding of Fidelity Bank, a solely owned Private Sector Bank.

The Bank was formerly called Fidelity Discount House, the leading discount house in Ghana. After operating profitably for 8 years, the business environment in the country attracted investors to the idea of establishing a bank which is now Fidelity Bank.

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