Germany, a strong potential for organic growth
As a mature European economy with still significant growth opportunities, Germany will have an important contribution to Societe Generale's balanced growth strategy. The Group has decided to accelerate its development in the country and is targeting a growth rate between 5% to 10% per year for its activities in the coming years. Guido Zoeller, Group Country Head Germany & Austria, talks about this strategy.
We have leading positions in specialised financial services (equipment finance, car leasing, consumer finance) and a top-tier player in corporate and investment banking (SG CIB).
Indeed, SG CIB is a market leader in debt capital markets business for corporate clients and Societe Generale in Germany also holds leading positions in equipment and consumer finance and car leasing. We serve both retail and corporate clients, in particular catering to the dynamic Mittlelstand (Small and Medium-sized Enterprise) segment responsible for much of Germany's economic strength.
The Group's strategic plan has identified Germany as one of the countries with the highest potential in its overall set up. As such, we are aiming for a growth rate in the country of between 5% to 10% per year for our activities. To achieve this we have a series of targeted developments across all our businesses. In our Global Banking and Investor Solutions activities we are expanding the client base in SMEs, launching midcap research as well as reinforcing our equity advisory activities, initiating coverage activities for new sectors (such as real estate and chemicals) and developing our securities services activities. For our International Banking & Financial Services business we will focus on the building of an innovative equipment finance online portal for SMEs, the expansion of our car dealership networks in car financing and the increase of synergies between equipment finance and car leasing activities.
With our positioning we are well placed on the most attractive segments in the German market place and will be continuing our successful strategy as a multi-specialist by building on our organic growth potential.