Societe Generale Ghana

Société Générale (SG)
Public
Traded as GSE: SG-SSB
Industry Financial Services
Founded 1975
Headquarters Ring Road Central, Accra,
Greater Accra, Ghana
Key people
 Kofi Ampim[1]
Chairman
Gilbert Hie[2]
Managing Director
Jose Rebollar[3]
Chief Operating Officer
Products Loans, Checking, Savings, Investments, Debit Cards, Credit Cards
Revenue Increase Aftertax: US$ 15.4 million (GHS 30.3 million) (2012)[4]
Total assets US$ 554+ million (GHS 1,088+ million) (2012)[5]
Website www.sg-ssb.com.gh

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 4th largest bank in Ghana and has 45 networked branches in Ghana.[6]

History

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

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

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

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 OwnerPercentage Ownership
1Société Générale Financial Services Holding 52.24
2SSNIT 22.14
3Daniel Ofori (an Individual) 07.31
4Others08.31
Total100.00

Branches

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

Greater Accra region

Ashanti region

Brong-Aharfo region

Central region

Eastern region

Northern region

Upper east region

Volta region

Western region

See also

References

This article is issued from Wikipedia - version of the 10/7/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.