SG-SSB
Encyclopedia
SG-SSB is a bank
that is based in Ghana
. The name "SG-SSB" stands for "Société Générale - Social Security Bank"; 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 38 branches in Ghana.
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 the Sikatext Initiative Program. The bank is actively investing in internet banking.
, in the countries of: Benin
, Burkina Faso
, Cameroon
, Chad
, Côte d’Ivoire, Ghana
, Guinea
, Equatorial Guinea
and Senegal
.
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:
{| style="font-size:100%;"
|-
| width="100%" align="center" | SG-SSB Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||Societe Generale Financial Services Holding ||52.24
|-
|2||SSNIT ||22.14
|-
|3||Daniel Ofori ||07.31
|-
|4||Others||08.31
|-
| ||Total||100.00
|-
|}
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
that is based in Ghana
Ghana
Ghana , officially the Republic of Ghana, is a country located in West Africa. It is bordered by Côte d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south...
. The name "SG-SSB" stands for "Société Générale - Social Security Bank"; the bank is part of the Société Générale
Société Générale
Société Générale S.A. is a large European Bank and a major Financial Services company that has a substantial global presence. Its registered office is on Boulevard Haussmann in the 9th arrondissement of Paris, while its head office is in the Tours Société Générale in the business district of La...
banking group. The bank is based in Accra
Accra
Accra is the capital and largest city of Ghana, with an urban population of 1,658,937 according to the 2000 census. Accra is also the capital of the Greater Accra Region and of the Accra Metropolitan District, with which it is coterminous...
and its stock
Stock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
is listed on the Ghana Stock Exchange
Ghana Stock Exchange
The Ghana Stock Exchange is the principal stock exchange of Ghana. The exchange was incorporated in July 1989 with trading commencing in 1990. It currently has around 30 listed companies and 2 corporate bonds. All types of securities can be listed. Criteria for listing include capital adequacy,...
. It is a component of the GSE All-Share Index
GSE All-Share Index
The principal stock index of the Ghana Stock Exchange or GSE is currently the GSE All-Share Index. This index is calculated from the values of each of the market's listings.-Market listings:-External links:**...
. According to its website it is the 4th largest bank in Ghana and has 38 branches in Ghana.
History
SG-SSB 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 BankWorld Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
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
Ghana Stock Exchange
The Ghana Stock Exchange is the principal stock exchange of Ghana. The exchange was incorporated in July 1989 with trading commencing in 1990. It currently has around 30 listed companies and 2 corporate bonds. All types of securities can be listed. Criteria for listing include capital adequacy,...
. In 2004, the bank rebranded as SG-SSB after Societe Generale acquired a 51% controlling interest in the institution.
Operations
The bank markets the "Sika" program including the SIKA Card credit cardCredit card
A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services...
and the Sikatext Initiative Program. The bank is actively investing in internet banking.
Société Générale Group
The bank is a member of the Société Générale Bank Group with twelve (12) subsidiaries. Out of these, nine (9) are in AfricaAfrica
Africa is the world's second largest and second most populous continent, after Asia. At about 30.2 million km² including adjacent islands, it covers 6% of the Earth's total surface area and 20.4% of the total land area...
, in the countries of: Benin
Benin
Benin , officially the Republic of Benin, is a country in West Africa. It borders Togo to the west, Nigeria to the east and Burkina Faso and Niger to the north. Its small southern coastline on the Bight of Benin is where a majority of the population is located...
, Burkina Faso
Burkina Faso
Burkina Faso – also known by its short-form name Burkina – is a landlocked country in west Africa. It is surrounded by six countries: Mali to the north, Niger to the east, Benin to the southeast, Togo and Ghana to the south, and Côte d'Ivoire to the southwest.Its size is with an estimated...
, Cameroon
Cameroon
Cameroon, officially the Republic of Cameroon , is a country in west Central Africa. It is bordered by Nigeria to the west; Chad to the northeast; the Central African Republic to the east; and Equatorial Guinea, Gabon, and the Republic of the Congo to the south. Cameroon's coastline lies on the...
, Chad
Chad
Chad , officially known as the Republic of Chad, is a landlocked country in Central Africa. It is bordered by Libya to the north, Sudan to the east, the Central African Republic to the south, Cameroon and Nigeria to the southwest, and Niger to the west...
, Côte d’Ivoire, Ghana
Ghana
Ghana , officially the Republic of Ghana, is a country located in West Africa. It is bordered by Côte d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south...
, Guinea
Guinea
Guinea , officially the Republic of Guinea , is a country in West Africa. Formerly known as French Guinea , it is today sometimes called Guinea-Conakry to distinguish it from its neighbour Guinea-Bissau. Guinea is divided into eight administrative regions and subdivided into thirty-three prefectures...
, Equatorial Guinea
Equatorial Guinea
Equatorial Guinea, officially the Republic of Equatorial Guinea where the capital Malabo is situated.Annobón is the southernmost island of Equatorial Guinea and is situated just south of the equator. Bioko island is the northernmost point of Equatorial Guinea. Between the two islands and to the...
and Senegal
Senegal
Senegal , officially the Republic of Senegal , is a country in western Africa. It owes its name to the Sénégal River that borders it to the east and north...
.
Ownership
The bank's stockStock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
is listed on the Ghana Stock Exchange
Ghana Stock Exchange
The Ghana Stock Exchange is the principal stock exchange of Ghana. The exchange was incorporated in July 1989 with trading commencing in 1990. It currently has around 30 listed companies and 2 corporate bonds. All types of securities can be listed. Criteria for listing include capital adequacy,...
and is traded under the symbol: SG-SSB. Major shareholders in the bank include the following corporate entities and individuals:
{| style="font-size:100%;"
|-
| width="100%" align="center" | SG-SSB Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||Societe Generale Financial Services Holding ||52.24
|-
|2||SSNIT ||22.14
|-
|3||Daniel Ofori ||07.31
|-
|4||Others||08.31
|-
| ||Total||100.00
|-
|}