Societe Generale Ghana sees 18.6% increase in total assets for Q3 2024

Societe Generale Ghana Plc’s total assets rose 18.6% year-on-year in Q3 2024, reaching GHS 9.7 billion, driven by a substantial 110% increase in cash holdings and a 33.1% rise in customer loans.

However, investment securities declined by 53.8% to GHS 1.1 billion, while liabilities grew 16.1%, totaling GHS 7.9 billion. Profit-after-tax increased slightly by 0.71% to GHS 274 million.

The bank’s Capital Adequacy Ratio rose to 15.39%, but non-performing loans climbed to 19.05%, highlighting the need for improved loan recovery strategies to maintain asset quality.