Societe Generale opens Airport City branch

Societe Generale, one of the country’s major universal banks, has opened a branch within the Accra Airport City.

The branch will serve existing and prospective customers within the airport vicinity and its surrounding areas.

This brings to 41 the number of networked outlets of the bank nationwide. Speaking at the inuaguration of the branch, the Managing Director of the bank, Mr Sionle Yeo, said many new features had been added to the design of the branch, among which is an innovative automatic Queue Management System.

“As you will witness, this new setup will give you the opportunity to experience a new banking environment, where you can wait comfortably and be served without any challenge,” he said.

“The products and services that the new branch will offer are retail account, investment product, insurance product overdrafts loans, international business centre and privileged banking services,” he added.

Corporate governance

The Head of Banking Supervision of the Bank of Ghana (BoG), Mr Raymond Amanfu, urged banks in the country to adopt effective corporate governance and risk management best practices.

That, he said, would help them to clearly identify, measure, control and mitigate the risks associated with their operations.

Mr Amanfu said the central bank would soon publish guidelines of corporate governance which would enhance the operations of financial institutions in Ghana.

The guidelines, he said, would include the possibility of curbing the tenure of chief executive officers of banks, ensuring that non-executive directors were in the majority of every board and also ensure the independence of all executive directors.

He said it had been observed that good corporate governance systems should form the foundation of any successful business, and further advised the banks to adopt adequate measures to deal with associated challenges of operational and credit risks associated with their operations.aa