Societe General

We Are Engaging Société Générale To Ensure Clarity – BoG
30 May

We Are Engaging Société Générale To Ensure Clarity – BoG

Wontumi1Business,
The Bank of Ghana has stated that it has not received any formal notice from Société Générale Ghana on recent news reports suggesting the bank’s exit from the Ghanaian market. French Bank Société Générale earlier this month dismissed rumours suggesting its withdrawal from the Ghanaian banking sector, describing them as baseless speculation. However, the Central Bank notes that it is actively engaging in discussions with the Bank’s Group Head Office to ensure clarity. Giving an update at the 118th Monetary Policy Committee press briefing, Governor of the Bank of Ghana, Dr. Ernest Addison urged the bank to be transparent in…
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Societe Generale Group Initiates Strategic Review Of Societe Generale Ghana
10 May

Societe Generale Group Initiates Strategic Review Of Societe Generale Ghana

Wontumi1Business
Societe Generale Ghana has addressed recent speculation regarding the Societe Generale Group's strategic review, stating that further details will be communicated in accordance with relevant regulations. In a statement released on Thursday, May 9, the bank clarified that Societe Generale Group, holding a majority stake of 60.22% in Societe Generale Ghana, has initiated a strategic review, and assured stakeholders that any concrete developments resulting from this review would be communicated at the appropriate time and in compliance with applicable legislation. “Societe Generale Ghana has been informed that Societe Generale Group, which holds 60.22% of Societe Generale Ghana, has initiated a…
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Société Générale Ghana Records GHS 109M Profit In 2022 Despite DDEP Impact
06 Jul

Société Générale Ghana Records GHS 109M Profit In 2022 Despite DDEP Impact

Wontumi1Business,
Société Générale Ghana Plc recorded a GHS 109 million profit after tax for the year 2022 as compared to the GHS 184 million cedis recorded in 2021. This represents a decrease in the profit margin of the bank. This comes on the back of the implementation of the Domestic Debt Exchange Programme (DDEP) by government which led to a general decline in the profitability of the banking sector in Ghana. Speaking at the Facts behind the Figures series organized by the Ghana Stock Exchange in Accra, the Managing Director of Société Générale Bank Plc, Hakim Ouzzani highlighted the overall performance…
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