Societe Generale Ghana Limited made a pre-tax profit of GHc71 million last year.
The bank’s net profit also stood at GHc49 million.
The Board Chairman of the bank, Mr Kofi Ampim, disclosed these at its annual general meeting in Accra.
He explained that net banking Income increased by 45.41 per cent while current operating expenses grew by 33.16 per cent.
Shareholders’ funds, he said, increased from GHc193. million in 2013 to GHc221.9 million, representing an increase of 15.02 per cent within the period.
At the meeting, shareholders of the bank approved a special resolution to increase the bank’s stated capital to GHc100 million through the transfer to GHc2.9 million stated capital to the credit balance of the share deals account.
About GHc34.7 million was also to be transfered from the income surplus account to stated capital.
Going forward, the Board Chairman said Societe Generale Ghana would continue to improve customer service and maintain leadership in innovation, capture growth through business development and increased synergies and deliver sustainable profitability.
“The bank will maintain strict cost discipline and enhanced risk management in an effort to enhance shareholder value,” he said.
The Managing Director of the bank, Mr Gilbert Hie, stated that the bank would continue with its strategy and will carry on with its agenda on quality in 2015.
He said the bank would not relent on its efforts to reach ambitious goals and objectives to make Societe Generale Ghana the leading relationship bank in the country.
“This will be achieved through listening, information sharing and solidarity, as well as the pooling of resources as the main priority. The goals that were not achieved in 2014 will be reached in 2015 and management will continually improve its efforts for the success of the bank and will continue building team spirit together,” he added.
He thanked the Board of Directors for their guidance and all staff for their hard work and support.