Foreign-owned banks dominated Ghana’s secured lending market in the second quarter of 2026, accounting for 71.1% of the GH¢19.86 billion ($1.757 billion) in secured credit registered by banks.
According to a report by the Collateral Registry Department of the Bank of Ghana, published on Sunday, September 20, 2026, foreign-owned banks registered GH¢14.12 billion ($1.245 billion) in secured credit during the quarter.
The figure represents a 19.3% year-on-year increase from GH¢11.84 billion ($1.042 billion) recorded in the same period of 2025.
Ghanaian-owned banks, meanwhile, registered GH¢5.74 billion ($503.3 million), representing a stronger 112.4% annual increase from GH¢2.70 billion ($238.4 million) recorded in the same period a year earlier.
The figures show that while foreign-owned banks retained the largest share of secured lending, Ghanaian-owned banks recorded significantly faster annual growth.
Foreign-owned banks maintained their lead in Ghana’s secured lending market between April and June 2026, accounting for more than two-thirds of the $1.757 billion in secured credit registered by banks.
Ghanaian-owned banks increased secured credit to $503.3 million from $238.4 million a year earlier, representing 112.4% annual growth.
The increase in lending activity comes amid declining interest rates across Ghana’s banking industry, with industry lending rates reported at around 10%, potentially supporting stronger borrowing and credit activity.
Ghana’s banking sector has experienced significant changes in lending conditions, interest rates and foreign-bank activity in recent years.
These developments show that Ghana’s banking sector has been operating amid easing monetary conditions, lower borrowing costs and continued activity from foreign-owned institutions.
On July 23, 2026, Nairametrics reported that the Bank of Ghana maintained its policy rate at 14% after a series of cuts that significantly reduced borrowing costs from previous years.
The lower-rate environment provides context for the 73.4% year-on-year increase in Ghana’s secured credit market in the second quarter, as reduced financing costs may have supported higher borrowing and lending activity.
Improving inflation conditions also gave the central bank room to maintain a more accommodative monetary stance, while the 13.9% increase in collateral registry searches indicates greater activity in secured lending and credit due diligence.
Although foreign-owned banks continued to account for most secured credit, the 112.4% annual growth recorded by Ghanaian-owned banks points to a significant expansion in their lending activity. The latest figures therefore show a Ghanaian credit market expanding alongside lower interest rates, with foreign-owned banks retaining the largest share of secured lending while domestic institutions recorded faster year-on-year growth.
