Since the 1990s, new features of the banking market have created a mutation in the banking business: not only the technological change and computerization of the data but also the internationalization of trade and customers that cause the emergence of new financial tools. The computer supports and the telephone develop to make it possible to answer a request for relations and exchanges quasi instantaneous.
Society General is therefore the appropriate name for the multi-channel bank. Closer to home, in the beginning of the year 2006, it was marked by mixed economic and financial environment, because of the high volatility of stock markets and in particular a drop in European stock market in the second quarter and finally, falling somewhat since it is corrected in the third quarter.
Despite this, Society General has done well out of the game with its presence in a market where the U.S. economy remained strong, and also due to the higher European interest rates (ECB policy), the fledging of the dollar has meanwhile somewhat affected the activities of the bank. The environment of credit risk remained, according to the experts, very favorable, which has helped the banking business in general.
Society General has developed around three key businesses, such as retail banking, the asset management and corporate banking and investment. This diversity brings many business benefits to the group, partly because diversification of its activities can reduce the risk if a sector becomes a negative example.
Moreover, this diversity can provide customers a much more comprehensive response services that may be offered. Thus, if we can offer a customer who buys a car, the credit insurance vehicle of the future as well, we enter a more assertive loyalty by proposing a comprehensive package of services in one place.
Tags: Society General, banking sector, diversity of Society General
[...] This network is the foundation of the Societe Generale of its importance as a proportion of net banking income realized. The interface Societe Generale / Client is multi channel: agencies, mCRC, Internet . can distribute a large variety of products and services. This retail network includes the national network (2,800 branches million customers) but also the international network (1,700 branches million customers), the latter is rapidly developing. Financial services include fundraising and business services, consumer credit, insurance and management of means of payment. [...]
[...] It is fair to note that 75% of GNP is generated abroad. Strategy and objectives of the Group A major focus of the Group's development relies on the international openness, especially for retail banking. Société Générale set up the management of retail banking outside France in 1998 to affirm this commitment. Numerous acquisitions of foreign banks reinforced this very strategy in line with current market trends towards the internationalization of trade and finance. These include for example the acquisition of Splitska Banka (Croatia) and Rosbank (Russia, capital acquisition). [...]
[...] Asset management: 327 billion in assets under management. Private Banking: manages 59.4 billion Euros in assets. Branch asset management and investor services business includes four working on the same material, the titles for the same type of customers, investors. SGAM, a subsidiary of Societe Generale is a leading global asset management. Private Banking SG Private Banking offers consultancy and management services to investors worldwide. Boursorama is also a company offering Web Direct savings and financial information. Banking and investment 30% of GNP group. [...]
[...] In 1945, Societe Generale was nationalized, so this is the state which became the sole shareholder of the company. This period also marked an evolution of the banking business that specialized in the credits "tailor made" according to their subject. Moreover, the range of banking services was going to stick to fleshing new market realities. The international opening is another example of this taken into account the characteristics of the banking market (Mexico, Italy . Subsequently, the most significant events for the company were the arrival of computer tools to facilitate data exchange and management of accounts receivable, or the development of bank money and credit card. [...]
[...] Finally, the Group's general objectives are to continue the conquest of French and international markets in market share and number of customers. The final goal is to consolidate its position of excellence of the company in terms of quality of service and innovation in the client tools. Current issues of the company A major challenge for the Societe Generale Group is to show the social statistics that nearly 50% of Group executives will retire in the next 10 years. This fact is a real problem for human resource managers of the group as this massive piece of labor has to be replaced mainly the responsible positions where experience is predominant. [...]
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