As the euro-zone's largest and most competitive economy Germany plays an important role in the Group's business model and strategic plan. Identified as one of the countries with the highest growth potential, we plan to accelerate our growth in Germany by between 5 to 10% for its activities in the country in the coming years.
Societe Generale has been present in the country since 1886, one of the oldest international locations of the bank. Building on our strengths there as a multi-specialist with over 3,100 staff, Societe Generale focuses in particular on the needs of large corporate and financial clients, as well as supporting the development of the "Mittlestand" SMEs, the dynamic industrial fabric at the heart of the German economy.
"Germany is a key country in the Group's current set-up with an offer of services and expertise really fitting German clients' needs.
As a mature European economy with still significant growth opportunities, Germany will have an important contribution to our balanced growth strategy. Going forward, we have decided to accelerate our development by relying on our multi-specialist model. "
Séverin Cabannes, Deputy Chief Executive Officer of the Group
"Societe Generale has built a well-respected franchise in Germany, recognized for the quality of its multi-specialist expertise and well-suited to the needs of our clients.
We are confident that stronger coordination between all our businesses thanks to reinforced governance will enable us to further leverage on the positive client momentum we are experiencing, positioning us as a key banking partner for the German economy."
Guido Zoeller, Group Country Head Germany & Austria, Societe Generale
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The Group’s development in Germany, the euro-zone’s largest and most competitive economy, will play an important role in maintaining Societe Generale’s balanced business model, which relies both on recurring earnings from mature economies and exposure to faster-growing emerging markets as well as on the complementarities of its businesses.