Société Générale Bank renamed

Société Générale Bank renamed General Bank of Cameroon after state takeover Cameroon officially completed its takeover of Société Générale Cameroun on May 12 in Douala, increasing the state’s ownership in the bank to 83.68% and marking the end of the French banking group’s control over the institution. Following the acquisition, the bank was renamed General Bank of Cameroon, or GBC, Finance Minister Louis Paul Motazé announced. The Cameroonian government purchased the 58.08% stake previously held by Société Générale as part of a broader transaction signed between the two parties in July 2025. Officials stressed that customers should not experience disruptions…