In February 2010, Societe Generale announced the reorganisation of its businesses in Russia. In keeping with our universal banking model we are merging our two universal banks, Rosbank and BSGV, which will be combined within a single legal entity while our other entities in Russia, including Rusfinance and DeltaCredit will come under the control of Rosbank. This should enable us to optimise our customer service in Russia so as to improve the selective nature and professionalism of the product and service range that we can offer our customers in the country.

The impact of this news was immediate as, upon hearing the news, one of my younger customers, who is 25 and very attached to BSGV’s personalized service and attentive approach, offered her congratulations and said to me:
“This is a new beginning for you. You have already developed a distinctive, caring style of banking, which sets you apart from the competition. Now you are in an even stronger position to become the most exemplary international bank in Russia in the next 3-4 years.”
And I said to myself that to do so, first and foremost, we have to win over our country’s youth.

Russia, in spite of its long and eventful history, is a young, vibrant, rapidly developing market economy, one of the most promising in the world, considering its wealth in natural resources, vast territory, intellectual potential, and, most importantly, its young generation.

These young people grew up after the break-up of the Soviet Union, and they have a new, fresh outlook on life in their country. They are very ambitious, eager to succeed, personally and professionally, and willing to work hard to achieve that. They also expect, as consumers, high levels of product offerings and services, including, of course, in the financial industry. And this creates a truly unique opportunity for Societe Generale in Russia, because it is something that the Group is perfectly positioned to offer through its universal banking model. Societe Generale is already a very well established brand in Russia, which appeals to Russian consumers, especially the young ones, as it represents European quality, professionalism and culture, and in some way the future of Russian banking as we are creating new standards for the banking industry here. And it also represents the cultural synergies between Russia and France, which go back a long way.

So, just as Societe Generale Group launches its own transformation with the aim of becoming the relationship-focused bank and a reference in its markets for its customer service and the quality of its teams, it was interesting that a similar goal was set here in Russia by that young customer of mine.

For details on the reorganisation of Societe Generale’s businesses in Russia, please click on the link below:

(press release):

https://www.societegenerale.com/sites/default/files/C3847797F6B804FEC12576CE0022338E.pdf