ANNUAL GENERAL MEETING, 23 MAY 2017
Questions from the shareholders
Faced with the growing use
of online banking services, the
arrival of new players and the
inevitable decline in customer
visits to branches, how does
Societe Generale plan to
maintain a personal and close
relationship with its clients?
We’re in the middle of a digital
revolution that has had a massive
impact on all service industries,
mainly because it has simplified
day-to-day banking operations.
This is an excellent opportunity
for us to improve our efficiency.
It is also an opportunity for new
competitors or new entrants who
may be interested in banking.
Our job is to improve our processing
capacities and the quality of
the transactions we carry out for our
clients. Simultaneously, technologies
will enable us to improve
the quality of our interactions
with the client and personalise
our offer and our relationship.
All of the effort we’re putting into
transforming our Retail Banking
networks is aimed at keeping the
best of the human side, in order
to maintain a direct and personal
relationship when our clients need
advice while also taking the best of
digital technologies, which improve
the quality of transactions and
enable more personalised offers.
What environmental
commitments has Societe
Generale made? How is the bank
helping its clients to reduce
their energy consumption?
We have made firm commitments,
fully in line with the COP 21
conclusions, specifically in terms
of environment-friendly financing
and we’re encouraging our clients
to move in this direction. Last year,
we financed all of the major offshore
windfarm projects in Europe, for
a total investment in renewable
energies of around €1.2bn.
6 | LETTER TO SHAREHOLDERS_JUNE 2017
We also issued green bonds
(bonds backed by green financing).
We are fully committed to energy
transition. Our target is €10bn
invested in renewable energies by
2020. In terms of supporting our
clients, we’re focusing on giving
advice and raising awareness. Last
year, we organised a 2-day seminar
with our institutional investors, who
are very concerned about Socially
Responsible Investment issues.
How do you see Boursorama’s
prospects for development?
Boursorama has already become a
major player on the French online
banking market, with over a million
customers. Between 2016 and
2017, the number of customers
increased by 30%, mostly thanks
to recommendations by existing
clients. Because they’re satisfied
with the quality of the service
they receive, these customers
recommend opening a Boursorama
account to friends and family. This
is the Societe Generale group’s
spearhead in French retail banking
in terms of customer acquisition.
Boursorama’s ambition is to have
at least 2 million customers by 2020.
OUR TARGET IS
€10BN INVESTED
IN RENEWABLE ENERGIES
BY 2020