October 2025 Banking Deposits Hit GH¢302bn as Forex Falls 21%

The total banking deposits in Ghana stood at GH¢302.0 billion at the end of October 2025, according to the November 2025 Banking Sector Development Report.

This represents a moderate growth in deposits, which slowed down from 38.7% in October 2024 to 8.9% in October 2025, driven mainly by domestic deposits.

The foreign currency component of deposits in cedi terms contracted by 21.1% to GH¢71.3 billion in October 2025, compared to a growth of 39.8% in the same period last year, due to the appreciation of the Ghana cedi during the period.

Meanwhile, the banking industry’s shareholders’ funds, comprising paid-up capital and reserves, grew at a lower rate of 41.0% to GH¢53.5 billion in October 2025, compared to a growth of 49.5% in October 2024.

The growth was driven by a strong outturn in industry profit and some recapitalization efforts by banks, indicating a positive trend in the banking sector despite the challenges posed by the foreign currency component of deposits.

Image Source: MYJOYONLINE