By
Morkporkpor Anku, GNA
Accra, July 17, GNA – Management of Societe
General (SG Ghana) says the bank is ready to meet the minimum capital
requirement by end of September 2018.
Mr Sonle Yeo, the Managing Director, SG Ghana,
said the Bank’s major shareholders were commitment to the contribution of
meeting the requirement.
The Bank of Ghana, on September 11, 2017, announced
an upward revision in the minimum paid-up capital for existing banks and new
entrants, from GH¢120,000,000.00 to GH¢400,000,000.00.
Mr Yeo, speaking at the Facts behind the
Figures programme on the Ghana Stock Exchange, said the Bank was now providing
the right products to their customers to help them manage their accounts
better.
He said the bank unveiled its transformation
programme in late 2015 and started implementation in 2016 to develop innovative
products and channels and fostering digitisation, improving their operational
efficiency, fostering intimacy and developing their human capital.
He said Societe General had strong growth in
its portfolio because of transformation programme, adding that, the bank’s net
loan growth was 49.7 per cent year on year against the market average growth of
6.8 per cent.
The Managing Director said on deposits
evolution, the bank had an increase of 11.2 per cent year on year and the
growth was due to the aggressive deposit mobilisation campaign and the
introduction of their new cash management solutions for corporate customers.
Mr Yeo said it was the desire of the Bank to
reach 6 per cent market share by close of 2018 from 3 per cent in 2015.
He said SG Ghana from 2009 to 2018 financed
government projects, totalling 653 million dollars, which includes energy,
Cocoa, Road and Highways, Communication, bridges and interchanges.
He said the Bank would continue to be a
credible partner to government in the execution of its developmental agenda.
He said management of the Bank were working
with the Bank of Ghana to launch its Mobile Banking platform and the Mobile
wallet service.
He explained that within the period the Bank
had invested in digital move, innovative branches and capital increase.
On staff development, the Managing Director
said there was positive atmosphere; strong commitment from staff; recruitment
of talents of 150 graduates and engagement of 180 National Service Personnel.
He noted the Bank had initiated a solar plant
project to provide renewable sources of energy to the head office building, it
was a 267 Kwp Hybird PV plant located at its Car park.
“Annually, the Bank saves GH¢600,000.00, which
is anticipated to grow,” he added.
He expressed the confidence in the sustainable
continuous growth of their business based on their operational efficiency,
strong permanent dynamic compliance culture and eventually, the trust of their
customers.
GNA