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French strategic partner assists SeABank
France ’s Societe Generale, strategic partner of the Southeast Asian Joint Stock Commercial Bank (SeABank), has provided a team of experts to assist the latter in business administration and risk control procedures.
According to the SeABank, Societe Generale will also assist the SeABank’s in the formulation of strategies to improve its services, expand its networks and ensure the professional development of its personnel.
This move is part of an agreement on comprehensive strategic cooperation and technical assistance between the SeABank and Societe Generale.
In August 2008, the French bank, one of Europe ’s leading financial and banking groups, officially became the SeABank’s strategic partner, purchasing a 15 percent stake in the Southeast Asian bank.
With a 144-year history, the Societe Generale Bank now owns total assets of over 1.68 trillion USD, employs 150,000 staff, and can boast 30 million clients and a network covering 85 countries worldwide.
Despite the global financial crisis, the bank posted post-tax revenues of 1.74 billion Euro (2.6 billion USD) for the first half of 2008.
VNA
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