Universal Merchant Bank (UMB) recorded the lowest annual percentage rate (APR) for corporate loans with a one-year tenor in June 2025, according to the Bank of Ghana’s latest lending market data.
With the Ghana Reference Rate (GRR) steady at 23.80%, UMB priced its corporate loans at 23.49%—slightly below the GRR once fees and charges were factored in. This positioned the bank as the most competitive lender in that category, ahead of rivals like Fidelity Bank (24.61%) and GCB Bank (24.45%).
However, UMB did not record any loans for SMEs or corporates in the 3-year or 5-year categories during the month. Analysts say this may reflect a strategic focus on short-term corporate facilities rather than long-term lending, which generally carries higher risk premiums in Ghana’s current interest rate environment.
The report shows a wide spread in corporate APRs, with Agricultural Development Bank topping the one-year category at 37.60%, underscoring the significant differences in credit pricing strategies across Ghana’s banking sector.
APR for June 2025 by Fred Dzakpata
About UMB
Founded on March 15, 1972, Universal Merchant Bank (UMB) is a leading indigenous Ghanaian bank known for its customized financial solutions and entrepreneurial spirit.
With 35 branches, 3 UMB Centres for Businesses, 1 PPP Incubator Centre, and a robust ATM network, UMB offers a full suite of financial services through its omnichannel platforms, including the UMB SpeedApp.
The Bank is ISO 27001 and PCI DSS certified, reflecting its commitment to innovation, security, and service excellence.
