Societe Generale announces new brand for retail banking in France-April 19, 2022 14:35

(AOF)-Societe Generale and Crédit du Nord integrate the two networks by today announcing a new brand system for future retail banks in France, which has been in operation since 2023, and the appointment of its future regions. We have taken a new step in our project. director.

The selected system is a new domestic SG brand associated with 10 regional brands of SG Crédit du Nord, SG Grand Est, SG Laydernier, SG Auvergne Rhône Alpes, SG SMC, SG Courtois, SG Sud Ouest, SG Tarneaud, SG Grand Ouest and SG. .. Societe Generale of Ile de France and Corsica.

Sebastien Proto, Deputy Managing Director of Societe Generale, Crédit du Nord, Private Banking Network and its Innovation, Technology and IT, commented: All the efforts we have made to our customers and employees. ”

As part of its active preparation for the merger, the Banking Group appoints future managers of the region who are tasked with preparing the establishment of future entities before taking effective responsibility during the January statutory merger. Will be announced. 2023.

AOF-Details

Key Point

1864 Bank, one of Europe’s leading financial services groups.

-Net banking revenue of € 24.67 billion generated by French retail banking – Societe Generale and Brusolama brands, international retail banking, financial services and insurance, and wholesale banking and investor solutions.

-A business model that claims to be a pioneer of positive transformation: 100% digital banks, open platforms and architectures, winners in the European leadership competition.

-Capital characterized by the presence of employee shareholders (6.17% and 10.9% of voting rights), CEO Frederick Udea, a 12-member board chaired by Lorenzo Bini Sumagi.

-A solid balance sheet with equity of € 69 billion and a CET 1 ratio of 13.4% at the end of September 2021.

Task

-Vision 2025 strategy based on merger with Crédit du Nord, regional roots, responsiveness, adaptation to customer needs and responsibilities.

-Innovation strategies rooted in the Group’s DNA, artificial intelligence and data integration at all branches, open innovation that transforms business models at each branch, servicing with external partners, and finally, agility and speed. Expectations from a perspective: Internal Innovation Grouping / Open Innovation on the Les Dunes site – Supporting start-ups and incubators.

-Environmental Strategy Aiming to Become a Global Leader in Sustainable Finance through a New Dedicated CSR Sector: Energy in 2023 by Stopping Financing Dedicated to Coal-Fired Power Plants or Related Infrastructure from 2017 Aiming to Raise € 120 Billion for Conversion ETI Advice on “Green” Credit Product Innovation / Environmental and Social Analysis of Financing Companies and Financing for Energy Conversion / Strengthening SRI Savings Offers / Two Priorities : Support for climate change and sustainable development in Africa / 10% reduction in exposure to the oil / gas extraction sector by 2025.

-Implementing a profitable growth strategy for the large customer sector, aiming for profitability of 10% or more by 2023.

..