History of the Bank
Incorporation – 7 February 1975
Incorporated as a private limited liability company with the name Security Guarantee Trust Limited and was solely owned by the Social Security and National Insurance Trust (SSNIT).
Name Changed to SSB – 24 February 1976
SSNIT changes the Bank's name from Security Guarantee Trust Limited to Social Security Bank Limited.
License Granted – 17 September 1976
Bank of Ghana grants a license to Social Security Bank Ltd to operate as a Bank.
Bank Officially Opens – 17 January 1977
The Bank officially opened to the public with the first Branch, Accra Main located on the ground floor of the Head office. The next branch to be opened was the North Industrial Area branch.
Merger with NS&C Bank – 3 May 1994
The Bank successfully merged with the National Savings & Credit Bank and retained the name Social Security Bank Ltd.
Public Offer – July 1995
The Bank made a public offer of 30% of its shares. SSNIT divested 20% of its share holding in the Bank.
SSB Goes Public – October 1995
The Bank was listed on the Ghana Stock Exchange.
Strategic Investment – 1997
Strategic investor, a consortium made up of Blakeney Management Corporation UK, Morgan Stanley, Quantum (Soros) Emerging Market Investment Corporation and others, bought 52% of SSB Bank’s issued shares. Allied Irish Banks PLC was appointed as Technical Partner.
Change of Name – MARCH 1998
SSB Bank changed its name from Social Security Bank Limited to SSB Bank Limited.
Share Acquisition – December 1999
Commonwealth Development Corporation (CDC) acquired 20% stake in the Bank.
Change of Ownership – March 2003
The ownership structure of SSB Bank changed. Societe Generale, one of the largest banks in the world acquired controlling shares (46.7% ) in SSB Bank thus making SSB Bank a subsidiary of Société Générale.
· Tender offer – July 2003
Société Générale increased shareholding to 51%.
SSB Bank becomes SG-SSB Ltd – 31 March 2004
In March 2004, SSB bank officially became SG-SSB Ltd.
· Rights offer issue – NOVEMBER 2009
Société Générale shareholding increased to 52.24%.
· Name change from SG-SSB to Societe Generale Ghana – MARCH 2013:
· Rights offer issue – SEPTEMBER 2016
Société Générale shareholding increased to 56.67%.