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.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
