PARIS, 16-4-2014 — /EuropaWire/ — Societe Generale announces the acquisition of 7 % of Rosbank’s share capital from Interros group, raising its stake to 99.4 %, in line with its strategy of building up the Group’s stake in Rosbank.
This transaction has a limited impact of a few basis points on the Group’s Common Equity Tier 1 ratio.
Societe Generale’s commitment to Russia is part of a long term vision based on the belief that economic ties between Europe and Russia will strengthen and that the Russian banking sector has a strong growth potential.
Rosbank’s credit outstandings represent approximately 3.5 % of Societe Generale group’s total credit outstandings as of December 31, 2013, and do not include exposure to Ukraine. In addition, Societe Generale Group reminds that its exposure to Ukraine is extremely limited.
Societe Generale is one of the largest European financial services groups. Based on a diversified universal banking model, the Group combines financial solidity with a strategy of sustainable growth, and aims to be the reference for relationship banking, recognised on its markets, close to clients, chosen for the quality and commitment of its teams.
Societe Generale has been playing a vital role in the economy for 150 years. With more than 148,000 employees, based in 76 countries, we accompany 32 million clients throughout the world on a daily basis. Societe Generale’s teams offer advice and services to individual, corporate and institutional customers in three core businesses:
– Retail banking in France with the Societe Generale branch network, Credit du Nord and Boursorama, offering a comprehensive range of multichannel financial services on the leading edge of digital innovation;
– International retail banking, financial services and insurance with a presence in emerging economies and leading specialised businesses;
– Corporate and investment banking, private banking, asset management and securities services, with recognised expertise, top international rankings and integrated solutions.
Societe Generale is included in the main socially responsible investment indices: Dow Jones Sustainability Index (Europe), FSTE4Good (Global and Europe), Euronext Vigeo (Global, Europe, Eurozone and France), ESI Excellence (Europe) from Ethibel and 5 of the STOXX ESG Leaders indices.
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Societe Generale: 150 years
In 2014, Societe Generale Group celebrates its 150th anniversary with a focus on entrepreneurial spirit, innovation and team spirit. Founded by a group of industrialists and financiers, the bank’s very name illustrated their ambition: “Société Générale pour favoriser le développement du commerce et de l’industrie en France” (“Societe Generale to support the development of trade and industry in France”), as written into the Imperial decree signed by Napoléon III on 4 May 1864.
Societe Generale has always served economic development, contributing to the financing of infrastructures that symbolised the modern world and of leading French groups. Societe Generale was among the first French banks to open branches in London and in Russia in the 1870s, before expanding into the Maghreb, New York and Africa and to set up operations in Central European countries.
Societe Generale has always been at the cutting edge of financial innovation, and takes strength from its origins to assert its banking vision for the future, reinvent its businesses to serve its clients and become the reference bank of the 21st century.