9 I SOCIETE GENERALE 2013-2014 STRATEGY “Stepping into the shoes of our various customers to imagine the range of services that will meet each one’s needs” Bernardo SANCHEZ INCERA Deputy Chief Executive Officer Why did you merge the Group's International Retail Banking and Financial Services into one business? The two distinguishing features of the International Retail Banking and Financial Services division (IBFS) are its international presence and its expertise. The combination of the two entities is therefore a boon in every sense of the word. With the creation of IBFS, we can count on increasing the synergies between the specialised business lines and our retail banks. Insurance is the best illustration. Our extensive geographic coverage is also a valuable asset for our businesses as, by maintaining a presence in markets at very different stages of maturity and banking penetration, we have gained experience that helps us better identify and anticipate our customers' expectations. The most innovative solutions are not necessarily confined to the most developed economies: for instance, there are many lessons to be learned from the rapid expansion of mobile banking in Africa, where the low density of physical networks and infrastructures has prompted us to invest upfront in the latest technology with tangible results. Finally, this international presence will make it possible for us to better manage our employees by using internal promotion to better harness the multiple benefits of their diverse profiles. How did your different businesses and markets perform in 2013? In our retail banking businesses, I would point to the robust sales performance registered in Russia, where the managerial difficulties we experienced in no way hindered our path to recovery. In Romania, we are further developing our organisation and model to deal with a severely deteriorated economic environment and recovery is already underway. On the African continent, business has been robust and we have strengthened our efforts to support growth in the countries where we operate - mainly North and Sub-Saharan Africa. In the Specialised Financial Services businesses, the outstanding results posted by ALD (long-term vehicle leasing), which is strengthening its leadership position in Europe and worldwide, need to be acknowledged. Our Insurance business also turned in solid performance, where interaction with our retail banking network in France and worldwide further demonstrate the success of our combined banking and insurance model. What are the main challenges that lie ahead? The first is releasing the full potential of our new core business, which we expect to become an engine of growth for the entire Group. To this end, the commitment of our managers is an essential driving force for stimulating constructive interaction and forging collective commitment. The second challenge is reinventing the banking relationship now that our customers are demanding simplicity, transparency, and access to services in general and banking services in particular. More than ever before, the answers will be found through our capacity to personalise the banking relationship with our customers and to actually step into their shoes to imagine the range of services that will meet each one’s needs. ■
ACTIVITY_REPORT_20132014_UK
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