SociéTé Générale

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SociéTé Générale


(full name, Société Générale Pour Favoriser le Développement du Commerce et de I’Industrie en France), one of the three largest commercial banks of France. Founded in 1864 by an international syndicate headed by the banker Rothschild as a joint-stock company with its administrative center in Paris. The members of the syndicate included, in addition to representatives of the French financial olicharchy, important bankers from Belgium, Germany, Holland, and Switzerland.

Until the law of 1945 regulating banking business in France and dividing banks into commercial (deposit) and business (investment) banks, the Société Générale was a bank with diversified activities. On Jan. 1, 1946, it was nationalized, and the former stockholders were issued inscribed bonds paying yearly dividends. The bonds are amortizable over a period of 50 years, beginning in 1947.

The Société Générale performs all the operations of a deposit bank, its main operation being the issue of loans for foreign trade. In 1971 it had more than 1,800 branches in France and abroad and offices in the United States and Great Britain and was represented in Italy, the Federal Republic of Germany, Japan, Australia, Argentina, Brazil, Mexico, Tunisia, and Indonesia. It also has subsidiary banks in France, Belgium, Spain, and Argentina. In Lebanon and in several African states, including the Ivory Coast, the Malagasy Republic, Tunisia, the Central African Republic, the People’s Republic of the Congo, Senegal, Cameroon, Morocco, and Mauritania, it operates jointly with a number of banks set up as its branches. It also has joint operations with many French and international financial companies. Its fixed capital and reserves are 650 million French francs, and its total balance is 46.7 billion French francs. On Jan. 1, 1971, its deposits amounted to 38.9 billion, the total of its discount loans to 35.7 billion, and its cash and current accounts to 5.4 billion francs.


References in periodicals archive ?
Klaus Baader has been named Global Chief Economist for SG CIB replacing Michala Marcussen who was promoted Group Chief Economist.
Morgan and SG CIB, acted as Joint Lead Managers and Joint Bookrunners.
Ahead of the public $benchmark offering, TAQA also secured a EUR 180 million private placement, with SG CIB acting as sole dealer.
Ahead of the public USD benchmark offering, TAQA also secured a EUR 180 million private placement, with SG CIB acting as sole dealer.
The joint lead managers in the deal were barclays, HSBC, Morgan Stanley and SG CIB.
Also, as a part of the initiative, a number of SG CIB employees have joined Accenture with post-trade processing skills relevant in more than 50 financial markets.
SG CIB was mandated lead arranger and book-runner -- coordinator of the financing, for which Bank of America (NYSE:BAC), BNP Paribas (EPA:BNP), Credit Agricole Corporate and Investment Bank, Banque de l'Economie du Commerce et de la Monetique, Credit Industriel et Commercial (EPA:CC), HSBC (LON:HSBA) and Natixis (EPA:KN) also served as mandated lead arrangers and book-runners.
So, how does SG CIB build algorithms to cater for these conditions?
The three-year agreement would make CGI a preferred global vendor for IT application services, and under the deal it would provide application development and support services using its global delivery centres to SG CIB in Paris, London, New York, Singapore and Hong Kong.
Barclays Capital Inc, Deutsche Bank AG (ETR: DBK), (NYSE: DB) and SG CIB are joint bookrunners of the transaction.
EUROPEAN credit spreads will widen further in 2009 as economic growth in the world's major economies slows more than expected, but should gradually tighten in the second half, SG CIB credit strategists said yesterday.
It is pretty clear that we can break $70 without too much problem," said Deborah White, an analyst at SG CIB in Paris.