Societe Generale Ghana PLC posted a significant rise in profitability for the first half of 2025, according to its unaudited financial statements.
Profit after tax reached GH¢246 million, a 31% increase compared to GH¢187.8 million in the same period last year. This growth occurred despite a slight dip in operating income, which stood at GH¢664.94 million versus GH¢666.84 million in H1 2024.
Key drivers included robust net interest income of GH¢615.38 million, up 14.1% year-on-year, and reduced impairment charges on financial assets.
Notably, the bank strengthened its capital position, with its Capital Adequacy Ratio climbing to 22.7% from 16.67% in June 2024, significantly exceeding regulatory requirements. The Non-Performing Loan ratio also improved to 17.9% from 21.15%.
However, the bank experienced a contraction in cash reserves. Cash and cash equivalents fell to GH¢2.63 billion from GH¢3.39 billion a year earlier.
This reduction stemmed partly from net cash outflows in investing activities, including investments in securities and property. The leverage ratio improved markedly to 15.57% (from 9.82%), reflecting a stronger equity base relative to total assets.
Risk management disclosures confirm the bank maintains frameworks for credit, liquidity, interest rate, and operational risks, overseen by Board committees.
The report noted no defaults in statutory liquidity requirements for either 2024 or 2025. Shareholders and the Bank of Ghana approved a 2024 dividend of GH¢0.34 per share.
The financials were prepared under International Financial Reporting Standards (IFRS) and Bank of Ghana guidelines, consistent with prior periods.
