Societe Generale Ghana

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. and in 2013 rebranded as SG to conform with the group name Société Générale.

Overview

According to its website, the bank is the 5th largest commercial bank in Ghana by assets, as of December 2011. 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). 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.

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:

Branches

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

Greater Accra region

Ashanti region

Brong-Aharfo region

Central region

Eastern region

Northern region

Upper east region

Volta region

Western region