French Bank Société Générale has denied media reports that it has decided to exit the Ghanaian banking sector.
It has described the reports as “baseless speculation.”.
Société Générale entered the Ghanaian market in 2003 by acquiring a 51% stake in the then Social Security Bank.
It emerged that the bank intends to concentrate its resources on markets where it can establish itself as a leading bank, in alignment with the group’s overall strategy, as stated on its website on April 12, 2024.
But the bank clarified that it was engaging in a restructuring of its operations to better align with international market dynamics.
Société Générale’s Managing Director, Hakim Ouzzani, addressing the 44th Annual General Meeting of the Bank and its shareholders, said the reports on some media outlets did not come from the bank.
“Some rumours have indeed taken root regarding SG Ghana. But it’s important to mention and to all our stakeholders and our shareholders that the news item being circulated in the media was not issued by the group nor by SG Ghana.
“We don’t want to comment further. But really, I insist on the papers is not by SG, it is not by SG Ghana,” he stated.
By: Rainbowradioonline.com/Ghana
