Soceite Generale continued its strong growth in 2021 as year-on-year earnings increased by 19.5% to ¢184 million, its 2021 Audited Financial Statement has revealed.

This is coming despite a reduction in growth of net interest income and net fees and commissions.

The bank recorded ¢401 million and ¢50.2 million in net interest income and net fees and commissions respectively in 2021. This is compared with ¢405.2 million and ¢54.3 million recorded in 2020.

The bank adopted a cautious approach in lending to the private sector in 2021 because of the impact of COVID-19 on the Ghanaian economy.

Due to the growth in the bottom-line, Earnings per Share went up to ¢0.260 in 2021, compared to ¢0.217 the previous year.

In actual fact, Societe Generale was the 4th best performing stock on the Ghana Stock Exchange in 2021, increasing its share price by 87.50%.

The balance sheet size of the bank remained strong, estimated at almost ¢11 billion in 2021.

Whilst customer deposits stood at ¢3.39 billion in 2021, loans and advancements were estimated at ¢2.50 billion.

With regard to the stability of the bank, Capital Adequacy Ratio (CAR) stood at 22.3% in 2021, up from 20.79% in 2020. This was above the industry average of 19.6%.

Non-Performing Loans went up to 7.58% in 2021, far better than the industry average of 15.2%.

Financial Soundness Indicators	2021	2020
Capital Adequacy Ratio	22.3%	20.79%
Non-Preforming Loans	7.58%	6.72%
Liquidity Ratio	108.87%	88.26%