08/11/11 - Resignation of Jean Azema
At its meeting of 07 November 2011, the Board of Directors took note of the resignation of Jean AZEMA as Director.
Jean AZEMA had been a member of the Board of Directors since 2003.
14/09/11 - Statement regarding Moody's rating
Following the review of French banks’ ratings, Societe Generale acknowledges Moody’s decision to lower its rating to Aa3 (negative outlook), down by one notch due to a methodological aspect in order to align the systemic support assumptions related to Societe Generale with the two other large French banks.
Societe Generale notes that Moody’s considers as modest and manageable the Group’s exposure to Greece (Sovereign debt and Geniki subsidiary) as well as to the other peripheral euro zone countries, with regard to its profitability and capital base.
Societe Generale also acknowledges that the extension of the review of the bank’s intrinsic rating will be related to its refinancing structure and that its Aa3 rating is anticipated to remain stable at the end.
Societe Generale underlines that it has proven its capacity to successfully manage the current situation and has taken the appropriate measures to support its funding profile.
06/04/11 -Restarting SGBCI's business
SGBCI is working with the Ivoirian authorities, the Ivoirian Central Bank (BCEAO) and the other banks in Côte d’Ivoire on ensuring the reopening of its branches in the best interest of its clients, on the morning of Thursday 28 April. SGBCI's teams are currently mobilised to enable opening the bank to the public under the best possible conditions of service and security.
06/04/11 - We continue to monitor the situation in Côte d'Ivoire closely; the safety of our staff and clients remains our primary concern. Along with our clients, we hope to be able to re-commence activity as soon as possible but it is premature to comment on a specific timeframe.
22/03/11 - Societe Generale supports relief efforts in Japan
In view of the catastrophe in Japan, the Group wants to express its solidarity with all Societe Generale employees in Tokyo, as well as their friends, families and the rest of the Japanese people. The Japanese Red Cross has launched emergency measures to provide medical relief to the victims of the tsunami. For the last 10 days, over 80 medical teams have been treating the inured. 100 teams are also in place around the various disaster zones in order to provide general assistance (medical care, psychological support, material aid, food) to people living in the centres set up by the Japanese authorities. To support these efforts, Societe Generale will donate 1.2 million dollars to the Japanese Red Cross. Societe Generale will also match all staff donations to the Japanese Red Cross’s emergency teams.
01/03/11 - Societe Generale strongly condemns the illegal seizure of its subsidiary in Côte d’Ivoire, SGBCI, and the coercion of its staff. The appointment of an “Interim General Director” on 23 February 2011 was done in a wholly irregular manner, without the approval of requisite management bodies of the bank and in contravention of its principles of governance. Neither SGBCI nor Societe Generale Group can be considered legally bound by any acts committed in the name of and for the account of SGBCI, by persons so appointed.
Societe Generale is fully conscious of the inconvenience caused by the temporary closure of SGBCI, and hopes to be able to re-open its network in Côte d'Ivoire under normal conditions as soon as possible. The situation in Côte d’Ivoire remains extremely difficult, and the Group continues to monitor its evolution on a daily basis.
Societe Generale is fully conscious of the inconvenience this closure will cause, and sincerely hopes to be able to re-open its network in Côte d'Ivoire under normal conditions as soon as possible.
With 47 branches and 230,000 clients, our subsidiary in Côte d'Ivoire has 950 employees. The Group thanks them for their commitment and their courage during this difficult time.