Societe Generale rakes in GH¢809.36m from deposits

Customer deposits with the Societe Generale Ghana Limited amounted to GH¢809.36 million in the first half of this year.

This was higher than the GH¢716 million mobilised from deposits in the first half of last year, the bank’s financial results for the first six months of the year have showed.

The results which were released late last month further showed that loans and advances to customers also increased to 639.86 million in the period under review from the GH¢418.35 recorded in the same period last year.

It showed also that the bank made GH¢82.05 million in revenues as of June this year, up from the GH¢71.48 million revenues realised as of the same period last year.

As a result, its net operating income improved to GH¢66.57 million from the 2013 first half figure of GH¢59.19 million.

Net profit also witnessed an increase, rising from GH¢12.22 million the period before to GH¢15.53 million in the period under review.

The bank’s non-performing loan (NPL) ratio was also reported at 6.78 per cent, down from the 2012 first half rate of 7.34 per cent.GB

By Maxwell Adombila Akalaare / Graphic Business / Ghana

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