Société Générale (SocGen), has reaffirmed
its commitment to grow its Russian unit, Rosbank, in stark contrast
to international rivals such as Barclays and HSBC, both of whom are
in the process of pulling out of the Russian retail banking
market.
Frederick Oudéa, SocGen
CEO, told an investor conference in the US on 9 June, that the bank
was targeting a top three position in international retail banking
within Russia and Central and Eastern Europe by 2015.
Go deeper with GlobalData
In it domestic French
market, Oudéa said that SocGen would continue to target increased
operational efficiency and add a net 2m retail banking customers by
2015.
In French business
banking, Oudéa said that SocGen would target a 1% increase in
market share.
Groupwide, Oudéa said
that SocGen will meet the capital criteria set out by European
regulator without having to raise fresh capital.
SocGen’s aims to reduce
its exposure to risky assets by more than €6bn and said that its
Core Tier 1 ratio could exceed 9% in 2013.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
