SOCIETE GENERALE : 17/03/2014 Societe Generale agrees to sell to DBS its private banking activities in Asia
Le 17 mars 2014 à 08:46
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Societe Generale has agreed to sell to DBS its private banking activities in Asia operated in Singapore and Hong Kong, representing a total of USD 12.6bn of assets under management as of 31 December 2013.
The transaction will be structured as a business transfer. At completion, Societe Generale group will receive a cash consideration of USD 220m for the franchise (subject to adjustment based on the net asset value and assets under management at completion) and will free up around USD 200m of equity.
Further to the transaction, Societe Generale announces that it has entered into a memorandum of understanding with DBS to develop a commercial partnership combining the strengths of the two franchises for the benefit of their respective clients. The partnership will give Societe Generale's clients access to DBS' Private banking offering in Asia.
In addition DBS' clients will have access to Societe Generale Private Banking's offering in Europe as well as to Corporate & Investment Banking solutions.
The transaction is subject to approvals from the relevant authorities and is expected to be completed in Q4 2014. It is expected to have a positive impact on the Group net income and on the Basel 3 Common Equity Tier 1 ratio.
Societe Generale Private Banking will be in a position to free up investment capacities to accelerate its development in its core markets and to further strengthen the services offered to its clients in Europe, Latin America, the Middle East and Africa.
Societe Generale remains committed to Asia, in particular in Corporate & Investment Banking, where it has successfully focused on its strengths over the past three years and reached a strong sustainable growth.
In Asia Pacific, the Group is present in 11 countries*, where it has more than 6,000 employees.
Leveraging on its universal banking model and leading positions, the Group offers domestic and international clients present in the region solutions ranging from financing and investment to cash management services.
*Japan, Hong Kong, India, Singapore, Taiwan, China (across 7 branches), Australia, Malaysia,
Indonesia, Vietnam, South Korea
Société Générale figure parmi les 1ers groupes bancaires français. Le Produit Net Bancaire (PNB) par activité se répartit comme suit :
- banque de financement et d'investissement (36,8%) : financements spécialisés (d'acquisitions, de projets, etc.), interventions sur les marchés actions, de taux, de change et de matières premières, opérations sur actions, conseil en fusions-acquisitions, activités de banque commerciale, etc. ;
- banque de détail en France (30,7% ; SG). En outre, le groupe développe des activités de gestion d'actifs et de banque privée (143 MdEUR d'actifs gérés en 2023), et propose des prestations de banque en ligne et de courtage en ligne (Boursorama Banque) ainsi qu'un site d'informations économiques et financières (boursorama.com) ;
- prestations de services financiers spécialisés et d'assurance à l'international (16,5%) : crédit à la consommation, crédit-bail, gestion de flottes automobiles, financement de biens d'équipement professionnels et assurances ;
- banque de détail à l'international (16%).
A fin 2023, Société Générale gère 533,8 MdsEUR d'encours de dépôts et 485,4 MdsEUR d'encours de crédits.
La répartition géographique du PNB est la suivante : France (40,2%), Europe (37,4%), Amériques (8,3%), Afrique (8%) et Asie-Océanie (6,1%).