SeABank announced foreign strategic shareholder - Société Générale (France)

 

 

 

On August 06, 2008, Société Générale (France) - a top retail bank in Europe - signed a contract to take up initially 15% of SeABank’s chartered capital, becoming SeABank’s foreign strategic shareholder. This is the first investment of Société Générale in Asia.

Société Générale is one of the leading financial groups in Europe with total assets of over USD 1684 billion, 144 year’s experience in financial banking field, operating in 85 countries with more than 30 million individual customers and employing over 150,000 staffs. For the first six months of 2008, after taxes profit of Société Générale reached  1.7 Bio Euro, equivalent to USD 2.6 billion. Société Générale’s being a foreign strategic shareholder has marked a new development stage of SeABank.

The cooperation with such a strong partner as Société Générale shall be a special motivation for SeABank to step up in the coming time. Société Générale committed to provide SeABank with a comprehensive technical assistance program, including assistances in administration management, activities organization, products and services development, particularly retail banking products and risk management system development that can make SeABank to be a typical bank in the near future. With its worldwide operations and long-standing experiences in financial banking field, it is sure that Société Générale will bring a lot of business opportunities to SeABank.

We have strong confidence that the comprehensive strategic cooperation between SeABank and Société Générale will create good conditions for SeABank to provide customers with the most professional and favorable products and services.

Once again, we would like to express our sincere thanks to your trust and cooperation. Wishing our relation is successful and prosperous.

We thank you for your kind attention and support.

Yours faithfully,

(signatured) 

Le Van Chi

CEO