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Societe Generale Ghana

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Societe Generale Ghana Limited (SG) is a bank that is based in Ghana, previously known as Société Générale - Social Security Bank (SG-SSB). The bank is part of the Société Générale banking group. The bank is based in Accra and its stock is listed on the Ghana Stock Exchange. It is a component of the GSE All-Share Index. According to its website it is the 7th largest bank in Ghana and has 45 networked branches in Ghana.[6]

Société Générale (SG)
Company typePublic
GSE: SG-SSB
IndustryFinancial services
Founded1975
HeadquartersRing Road Central, Accra,
Greater Accra, Ghana
Key people
'Kofi Ampim[1]
Chairman
Sionle Yeo[2]
Managing Director
Arnaud Crouzet[3]
Chief Operating Officer
ProductsLoans, Checking, Savings, Investments, Debit Cards, Credit Cards
RevenueIncrease Aftertax: US$ 15.4 million (GHS 30.3 million) (2012)[4]
Total assetsUS$ 554+ million (GHS 1,088+ million) (2012)[5]
Websitesocietegenerale.com.gh

History

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SG began in 1975 as "Security Guarantee Trust Limited" and the next year changed its name to "Social Security Bank Limited", or "SSB". In 1994, SSB and the "National Savings and Credit Bank" merged under a World Bank program. The next year, the government of Ghana divested its 21% share of the bank and it was converted to a public limited liability company and subsequently listed on the Ghana Stock Exchange. In 2004, the bank rebranded as SG-SSB after Societe Generale acquired a 51% controlling interest in the institution.[7] and in 2013 rebranded as SG to conform with the group name Société Générale.[8]

Overview

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According to its website, the bank is the 5th largest commercial bank in Ghana by assets, as of December 2011.[9] As of December 2010, the bank's total assets were valued at approximately US$423.4 million (GHS:685.9 million), with shareholders' equity of approximately US$71.9 million (GHS:116.2+ million).[10] The bank markets the "Sika" program including the SIKA Card, a credit card and the Sikatext Initiative Program. The bank is actively investing in internet banking.

Société Générale Group

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The bank is one of the Société Générale subsidiaries. Out of these, seventeen (17) are in Africa, in the countries of: Algeria, Benin, Burkina Faso, Cameroon, Chad, Côte d’Ivoire, Egypt, Ghana, Guinea, Equatorial Guinea, Madagascar, Mauritania, Morocco, Senegal, South African Republic, and Tunisia.[11]

Ownership

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The bank's stock is listed on the Ghana Stock Exchange and is traded under the symbol: SG-SSB. Major shareholders in the bank include the following corporate entities and individuals:[12]

SG-SSB Stock Ownership
Rank Name of Owner Percentage Ownership
1 Société Générale Financial Services Holding 52.24
2 SSNIT 22.14
3 Daniel Ofori (an Individual) 07.31
4 Others 08.31
Total 100.00

Branches

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As of December 2011, SG-SSB maintains a network of thirty-eight branches in all regions of Ghana.[13]

Greater Accra region

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  • Accra New Town (Branch)
  • Ashaiman ( Branch)
  • Faanofa (Branch)
  • Kaneshie Main (Branch)
  • Spintex Road (Branch)
  • Osu (Branch)
  • East Legon (Branch)
  • Lotteries (Agency)
  • Pig Farm Spot Bank (Agency)
  • North Industrial Area (Branch)
  • Accra Main (Branch)
  • Okaishie (Branch)
  • Premier Towers (Branch)
  • Ring Road Central (Branch)
  • Tema Main Comm 2 (Branch)
  • Tema Fishing Harbour (Branch)
  • Tema Motorway Spot Bank (Agency)
  • Tudu (Branch)
  • Madina (Branch)
  • Dansoman )(BRANCH)
  • Achimota (BRANCH)

Ashanti region

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  • Adum (Branch)
  • Asafo (Branch)
  • Kumasi Central (Branch)
  • Suame (Branch)
  • Tepa (Agency)
  • Kejetia (Branch)

Brong-Aharfo region

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  • Berekum (Branch)
  • Sunyani (Branch)

Central region

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  • Cape Coast (Branch)
  • Dunkwa (Branch)
  • Kasoa (Branch)

Eastern region

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  • Akim Oda (Branch)
  • Koforidua (Branch)

Northern region

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  • Tamale (Branch)

Upper east region

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  • Bolgatanga (Branch)

Volta region

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  • Ho (Branch)

Western region

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  • Adabokrom (Agency)
  • Bibiani (Branch)
  • Takoradi (Branch)
  • Akontombra (Agency)
  • Tarkwa (Branch)

See also

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References

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  1. ^ SG-SSB 2012 Financial Annual Report
  2. ^ Gilbert Hie Appointed Managing Director of SG-SSB
  3. ^ SG-SSB 2012 Financial Annual Report
  4. ^ SG-SSB 2012 Financial Annual Report
  5. ^ SG-SSB 2012 Financial Annual Report
  6. ^ http://www.sg-ssb.com.gh/TheBank.aspx?ContentTypeID=3
  7. ^ "SSB Now SG-SSB". www.modernghana.com. Retrieved 2017-08-17.
  8. ^ SG-SSB now Societe General Archived 2013-03-29 at the Wayback Machine
  9. ^ Fifth Largest Ghanaian Commercial Bank By Assets
  10. ^ 31 December 2010 Audited Financial Report Archived 26 April 2012 at the Wayback Machine
  11. ^ "Carte de nos implantations". Société Générale (in French). Retrieved 2017-08-17.
  12. ^ Shareholders In SG-SSB
  13. ^ Location of Branches of SG-SSB
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