Accra: Foreign-owned banks continued to dominate Ghana's secured lending market in the second quarter of 2026 over indigenous banks. A report by the Collateral Registry Department of the Bank of Ghana said foreign-owned banks accounted for more than 70 percent of all secured credit registered by banks.
According to Ghana News Agency, their dominance within Ghana's banking sector comes at a time when lending rates have reduced across the board, with the industry rate at 10 percent. Presently, foreign-owned banks hold the largest market share in Ghana's banking landscape, overshadowing players from the Savings and Loans and Microfinance sectors.
The report showed that foreign-owned banks registered GHS14.1 billion in secured credit during the quarter, representing 71.1 percent of the total GHS19.9 billion registered by the banking sector. "This marks a 19.3 percent year-on-year increase from the GHS11.8 billion recorded in the corresponding period of 2025," it stated.
In contrast, Ghanaian-owned banks registered GHS5.7 billion in secured credit, accounting for 28.9 percent of the banking sector's total secured lending. However, indigenous banks recorded a significantly stronger growth rate, with lending expanding by 112.4 percent from GHS2.7 billion in the second quarter of 2025.
The figures highlight the continued dominance of foreign-owned banks in the country's secured lending landscape despite growing competition from local institutions. The report noted that while foreign-controlled banks maintained their market leadership, indigenous banks demonstrated strong momentum in expanding their lending portfolios.
Overall, Ghana's secured credit market recorded substantial growth during the period. The total value of secured credit advanced and registered rose to GHS31.5 billion in the second quarter of 2026, representing a 73.4 percent increase from GHS18.2 billion recorded a year earlier. Banks remained the largest source of secured lending, contributing 63.1 percent of the total value of secured credit registered during the quarter.
On a quarter-on-quarter basis, foreign-owned banks also maintained their lead, registering GHS14.1 billion in secured credit in the second quarter compared with GHS11.6 billion in the first quarter of 2026, a 22.2 percent increase. Ghanaian-owned banks increased their secured lending from GHS4.8 billion to GHS5.7 billion, representing 19.7 percent growth over the same period.
The Bank of Ghana report also showed increased use of the collateral registry system, with searches conducted on the platform rising by 13.9 percent year-on-year to 19,518, indicating growing reliance on secured transaction mechanisms and improved credit due diligence by lenders.