Related News
Societe Generale to launch 50 outlets
By Zhang Fengming |
September 25, 2009, Friday
|
Print Edition
Print Edition
SOCIETE Generale aims to create a network of 50 outlets in China as part of an expansion strategy aimed at enlarging its market share in the country, a senior banker said yesterday.
"We are strongly committed to the Chinese market," Pierre Bonzom, head of commercial and personal banking of Societe Generale (China) Ltd, said yesterday in Shanghai. "We're investing in people, IT systems and a network to expand our China business."
France's second-largest bank is expecting to move close to profitability in two to three years, backed by its strong corporate banking business, Bonzom said.
The French bank set up its locally incorporated subsidiary, Societe Generale (China), in Beijing in September 2008, with registered capital of 4 billion yuan (US$586 million).
Societe Generale isn't the only foreign bank seeking to flex more muscle in the China market. HSBC, Citicorp and other big-name lenders are moving ahead with expansion plans.
The China Banking Regulatory Commission last month approved Societe Generale's application to be allowed to offer retail yuan services.
"We are strongly committed to the Chinese market," Pierre Bonzom, head of commercial and personal banking of Societe Generale (China) Ltd, said yesterday in Shanghai. "We're investing in people, IT systems and a network to expand our China business."
France's second-largest bank is expecting to move close to profitability in two to three years, backed by its strong corporate banking business, Bonzom said.
The French bank set up its locally incorporated subsidiary, Societe Generale (China), in Beijing in September 2008, with registered capital of 4 billion yuan (US$586 million).
Societe Generale isn't the only foreign bank seeking to flex more muscle in the China market. HSBC, Citicorp and other big-name lenders are moving ahead with expansion plans.
The China Banking Regulatory Commission last month approved Societe Generale's application to be allowed to offer retail yuan services.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
