French bank, Société Générale, has denied reports that it is leaving Ghana’s banking sector.
Earlier reports had suggested that the French financial institution had intended to withdraw its operations from Ghana after their 20-year stay in the country.
However, the bank has explained that it is restructuring its operations in order to correspond with international market dynamics.
At their 44th Annual General Meeting, the Managing Director of the bank, Hakim Ouzzani, said they do not know where such reports emanate from.
“Some rumours have indeed taken root regarding SG Ghana. But it’s important to mention 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.
Refusing to give details about the matter, he said “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.
According to reports, the bank had engaged the services of investment bank Lazard to seek potential buyers for its operations in Ghana, Cameroon, and Tunisia.
