Societe Generale Cameroun, SCB Cam compete to create special branches

BUSINESS 28 Aug 2019
Societe Generale Cameroun, SCB Cam compete to create special branches

By NDUMBE BELL GASTON
The SUN has gathered that a bitter rivalry now exists between Societe Generale Cameroun (S.G.C.) and SCB of the Attijariwafa Group of Morocco, since the creation of special branches limited to serve only those with patrimonial accounts or white collar businessmen in society.
Some observers of this new development are divided as to who was the first to introduce special branches. Some say S.G.C. opened theirs months ahead in Yaounde, before S.C.B. Platinum was inaugurated in Douala where they described the initiative as the first of its kind in the nation.
During SCB Platinum inauguration, we learnt that these creations will, for example, be exempted to have customers of salary accounts, but provide huge financial success to their patronisers, restructure their systems if necessary and work with insurers to reduce financial risks and generally anticipate the expectations of customers in terms of investment objectives. The trend continues. The sun has recently learnt that Societe General Cameroun has prognosticated the entry into operation of three more such branches in Douala and Yaounde, while others like BICEC, Afriland First Bank, CCA and BGFI Bank, are feared to be attracted to this trend, share the market and create further competition.
As the fierce competition rages on between the two banks, S.C.B. Cameroun remains serene that the creation of the special branches which is within the framework of their three-year development plan, will go on.

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