History of the Bank
Societe Generale Ghana Limited, formerly SG-SSB was incorporated on February 7, 1975 as “Security Guarantee Trust Limited”. It was founded in 1975 as a private limited liability company to provide banking services for the Ghanaian market, with SSNIT as its sole shareholder. In 1976, the name was changed to “Social Security Bank Limited” or “SSB” and received a licence to operate as a bank in that same year. It began banking operations in 1977.
In 1994, as part of the restructuring of the banking system, SSB Bank and the “National Savings and Credit Bank”, a small commercial bank jointly owned by Government and BOG were merged; the consideration being the issue by SSB of new shares representing 7.6% of its issued shares. The following year, the Government of Ghana divested its 21% stake in the bank and it was converted to a public limited liability company as part of its preparations toward the Company’s Initial Public Offer (IPO). The company subsequently listed on the Ghana Stock Exchange on October 13, 1995.
The bank’s name was changed to SSB Bank Ltd in 1998. In March 2003, Société Générale of France acquired a controlling interest in SSB Bank Ltd. On March 31st, 2004, the Company’s name was changed to SG-SSB Limited to reflect the new strategic focus being pursued by the Company. In 2013 Shareholders of the Bank approved for the Bank’s name to be changed to Societe Generale Ghana Limited.