Société Générale, a French bank, has categorically refuted reports indicating it is pulling out of the Ghanaian banking market, calling it mere conjecture.

The bank made it clear that it is reorganizing its business to more closely conform to the circumstances of global markets.

Société Générale’s Managing Director, Hakim Ouzzani, addressed concerns expressed by shareholders over the purported departure during the 44th Annual General Meeting, emphasizing that the reports were not coming from the bank.

“Some rumours have indeed taken root regarding SG Ghana. But it’s important to mention to all our stakeholders and our shareholders that the news item being circulated in the media was not issued by the group nor by SG Ghana.

“We don’t want to comment further. But really, I insist on the papers is not by SG, it is not by SG Ghana,” he stated.

Société Générale was reportedly leaving the Ghanaian banking industry after 20 years, according to widely circulated claims.