Mr Francis Marchal, Deputy Managing Director, Societe Generale Ghana, addressing journalists at the launch of the privilege safe deposit box

Societe Generale unveils product

Societe Generale Ghana (SG-Ghana) has unveiled a new product meant to meet the safety and security demands of its net worth clients.

Dubbed ‘The Privilege Safe Deposit Box’, the product is meant to give the bank’s affluent clients the safest means of keeping valuable items.

According to the Head of Privilege Banking, Mr Clement Aryee, the privilege safety box is digitally controlled and the first of its kind in the country meant to provide a world-class facility for the storage of their valuable and irreplaceable items.  

“We endeavour to please our clients by coming up with innovative products which are vital to our clients; that is why there is the need to provide this service to our clients to have a secure and confidential means of keeping their treasured items,” he said.

At the launch in Accra yesterday, Mr Aryee said even though the service was established in 2004 and has a client-base of over 2,000, it had been reshaped to include other privileges and added that to have access to this service, a client needed to have a minimum operating balance of GH¢20,000.

Explaining further, he said the charge on a box would depend on the value of the items being deposited but stated however, that the least amount a client could pay was GH¢90 per quarter for a small box.

He said the privilege boxes were situated at the head office of the bank for now, saying, “When we were putting up the head office, we inculcated it into the plans so for now it is situated here but we are making plans to make provision at other offices for proximity and easy access.”

Client segmentation

On why the service was limited to the bank’s affluent clients, the Head of Retail Distribution, Mr Obed Hoyah, said it was important to segment clients to be able to easily identify their demands and meet them accordingly.

“At Societe Generale, we recognise that customers must be given real, practical solutions to their financial and banking needs, thus creating products for the affluent customers who have more complex and multilayered needs,” he said.

He reiterated that by setting up the privilege bank unit which is a sub-unit of the retail unit, it affirmed the bank’s dedication to diversifying products and services to meet varied customer status and needs.

For his part, the Deputy Managing Director of SG Ghana, Mr Francois Marchal, entreated the bank’s clients and the general public to subscribe to this service and have the best of security for their valued items.

He said the service was reliable because it had three different ways of accessing it and that access was solely the preserve of the owner of the box, adding that it would cater completely for those clients whose needs went beyond what the bank offered ordinarily within the day.


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