The first retailing bank of Societe Generale in China launched business in Beijing on November 18, which marks that the retailing business of the foreign bank in Chinese market officially kicked off. It was introduced that in the future five years, Societe Generale will also establish around 50 outlets in Chinese market.
The headquarters of Societe Generale is located in Paris, presently ranking 7th among “top 10 European banks”. Analysts pointed out that retailing business has always been one of core businesses of Societe Generale. In the current situation of deepening financial crisis and unsteady market environment, Societe Generale is proactively making layout in Chinese market, which fully shows confidence of foreign financial institutions to development of Chinese market.