SOGEGH: Earnings up on better asset quality and lower cost of risk
The revenue of Societe Generale Ghana Plc (SOGEGH) grew by 10.6%y/y (versus 25.0%y/y in 2019) to GHS686.04 million in FY2020. Revenue was mainly driven by 14.4%y/y rise in interest income to GHS519.46 million despite a 3.1%y/y contraction in the loan book to GHS2.56 billion as the bank tightened its credit conditions in the midst of the coronavirus pandemic. The bank ramped up its holdings of risks free government securities (debt...
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