International Retail Banking & Financial Services International Retail Banking posted a solid performance in 2013, with a sharp increase in outstanding deposits (+11.4%) and a modest increase in outstanding loans (+1.3%). These figures reflect mixed trends from one country to the next. In Europe, where the economic and competitive climate was challenging, the entities maintained their dynamic sales performance and managed to increase deposits. In Africa and the Mediterranean Basin, revenues rose slightly. Lastly, recovery continues in Russia, where the Group confirmed its long-term strategy by strengthening its commitment to its subsidiary, Rosbank, in which it now has a 99.4% stake.* 8 I SOCIETE GENERALE 2013-2014 013 was marked by the creation of the International Retail Banking & Financial Services division, which encompasses International Retail Banking, Specialised Financial Services and Insurance. This new core business is expected to make an important contribution to the growth of the Group on the back of a retail banking business that is primarily focused on Europe, the Middle East and Africa and the profitability of its specialist entities. Present in 65 countries 80,000 employees 30 million individual, professional and business customers, including 8 million insurance policyholders 2 Financial Services to corporates once again demonstrated the robustness of its business model, with earnings up 25% and very strong performances by both its full-service leasing and fleet management (with a fleet that now has more than one million vehicles) and equipment financing businesses. Finally, the Insurance business enjoyed a good year in France and internationally as it pursued its strategy of expanding its range of products and increasing penetration rates among the different distributors. In 2014, International Retail Banking will press on with its growth strategy by using its universal banking model, which has been strengthened by the creation of this new core business, to capitalise on its leadership positions in the countries where it operates. ■ * At 30 April 2014
ACTIVITY_REPORT_20132014_UK
To see the actual publication please follow the link above