Over the coming months, Socite Generale will operate new transfers of expertise to Romania in domains such as savings, structured financing and market operations, Philippe Citerne, CEO of Groupe Societe Generale, told Ziarul Financiar.
For now, segments related to banking operations such as leasing, securities brokerage, consulting, export financing, asset management and, most recently, car fleet management, have been covered.
Though Societe Generale decided to back away from the privatisation of CEC (Romanian Savings Bank), Citerne believes that the position of BRD-SocGen as the second-biggest bank "is not seriously questioned now".
BRD is interested in holding solid market shares on segments such as RON consumer loans or loans destined for private sector enterprises.
"Our target has never been to be the bank with the biggest balance sheet, but to be the best bank, through our customers and shareholders," stated Philippe Citerne.
The tighter competition that would emerge should Erste Bank acquire BCR is seen by the French banker as a "likely hypothesis". "Erste has proved its savoir faire in Central Europe," says Citerne.
Also holding the position of UniCredito administrator, Philippe Citerne believes that the merger of the Italian group with HVB can be expected to boost competition to the benefit of customers.
"Societe Generale knows UniCredito quite well, a bank where I am an administrator, as a matter of fact. Should it succeed, considering any banking merger is a complex process, the merger between HVB/UniCredito is expected to intensify competition for the benefit of customers," stated the SocGen executive manager.
As regards the vulnerability of the banking market due to financing mainly from external sources, Citerne considers that following the privatisation of BCR and of CEC, "the Romanian banking market will be owned by shareholders whose high level of professionalism should shield it from such a risk".
Philippe Citerne says that the consolidation issue is not on the current agenda in France.
"This issue will be raised at a European level. France is moving away from this general trend, which is not without dangers, by boosting the public sector which benefits from disguised subsidies, and creating a postal bank. Bucharest is moving ahead while Paris is moving backwards," stated the Societe Generale CEO.
In the first nine months of this year, BRD derived profit worth 124 million euros, while its assets advanced to 5.1 billion euros.
This winter, the bank will resume its aggressive campaign meant to attract more customers on the retail segment. "We are a retail bank, so it is only natural that our promotion campaigns should bear a close resemblance to those of major retailers," stated Sorin Popa, BRD-SocGen deputy general manager.
BRD-SocGen
@ The bank will make new expertise transfers to Romania in domains such as savings, structured financing and market operations
@ The bank is interested in holding solid market shares on segments such as RON consumer loans and loans for private sector enterprises.
@ In the first nine months of the year, BRD posted income worth 124 million euros and saw assets climb to 5.1 billion euros.
@ The bank will resume its aggressive campaign to attract more customers on the retail segment.
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