Indigenous banks are making a stronger push into Ghana’s secured lending market, recording a remarkable 112.4% year-on-year increase in the value of secured credit registered during the second quarter of 2026.
The latest figures from the Bank of Ghana’s Second Quarter Brief on the 2026 Collateral Registry show that indigenous banks registered GH¢5.7 billion in secured credit during the quarter, compared with GH¢2.7 billion in the same period of 2025.
The sharp increase comes at a time when the broader secured credit market is expanding rapidly, signalling stronger lending activity and a growing use of collateral-backed financing across the banking sector.
While foreign-controlled banks continue to account for the larger share of secured bank lending, the performance of indigenous institutions stands out because of the pace at which their secured credit portfolio has grown.
Secured credit market jumps to GH¢31.5bn
The overall value of secured credit advanced and registered in the second quarter of 2026 reached GH¢31.5 billion, representing a substantial 73.4% increase from the GH¢18.2 billion recorded in the corresponding quarter of 2025.
The surge also marked a significant acceleration from the first quarter of 2026. Between the first and second quarters, total secured credit increased by 57.5%, highlighting the speed at which collateral-backed lending expanded during the period.
Banks remained the biggest contributors to the secured credit market by value. They registered GH¢19.9 billion during the quarter, accounting for 63.1% of total secured credit registered.
The figure represents a 36.6% increase from the GH¢14.5 billion recorded by banks in the second quarter of 2025.
Other lenders followed with GH¢8.3 billion, representing 26.3% of the total value of secured credit registered during the period.
Indigenous banks close part of the gap
Although foreign-controlled banks retained a commanding position, the performance of indigenous banks points to a notable expansion in their secured lending activities.
Of the GH¢19.9 billion in secured credit registered by banks, foreign-controlled institutions accounted for GH¢14.1 billion, representing 71.1% of the total.
That figure was 19.3% higher than the GH¢11.8 billion recorded by foreign-controlled banks in the second quarter of 2025.
Indigenous banks, meanwhile, registered GH¢5.7 billion, but their year-on-year growth rate was considerably higher.
The 112.4% increase from GH¢2.7 billion means indigenous banks more than doubled the value of secured credit they registered over the one-year period.
The development provides a striking contrast within the banking sector. Foreign-controlled banks continue to dominate in absolute terms, but indigenous banks are expanding at a much faster pace.
Rural banks and other lenders also record movement
The expansion was not limited to commercial banks. The Bank of Ghana reported changes across several categories of lenders between the first and second quarters of 2026.
Banks recorded a 21.5% increase in secured credit, while Rural and Community Banks recorded a 12.2% increase.
However, the movement was uneven across the lending market. Savings and Loans companies, Micro Finance Institutions and Micro Credit Institutions recorded declines during the same period.
The mixed performance suggests that the surge in secured credit was driven largely by stronger activity among banks and selected lending institutions rather than being evenly distributed across the entire credit market.
Collateral-backed lending gains momentum
The latest figures put the spotlight on the growing role of collateral in Ghana’s credit market.
Secured lending gives lenders an additional layer of protection by linking credit facilities to assets pledged by borrowers. As lending expands, the ability to register and track collateral becomes increasingly important to the functioning of the credit market.
The GH¢31.5 billion recorded in the second quarter therefore represents more than just a jump in lending volumes. It also reflects the scale of credit being supported through the country’s collateral registration framework.
The strong growth among indigenous banks could be particularly significant as domestic institutions seek to expand their lending operations and compete more aggressively within the banking sector.
Their 112.4% year-on-year increase demonstrates that secured lending is becoming an increasingly important part of their credit activity, even though foreign-controlled banks still hold the dominant position.
Foreign banks retain the lead
Despite the rapid growth recorded by indigenous institutions, the Bank of Ghana said the distribution of secured credit continues to underscore the dominance of foreign-controlled banks.
Their GH¢14.1 billion contribution represented more than twice the GH¢5.7 billion registered by indigenous banks during the review period.
The figures therefore reveal two simultaneous developments within Ghana’s banking sector. Foreign-controlled banks remain the dominant force in secured lending by value, while indigenous banks are rapidly increasing their participation.
With total secured credit climbing sharply to GH¢31.5 billion, the second quarter of 2026 has emerged as a significant period for collateral-backed financing.
The next phase will show whether indigenous banks can sustain their exceptional growth rate and gradually expand their share of secured lending, or whether the established dominance of foreign-controlled institutions will remain firmly entrenched.
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