Societe General achieves significant profitability growth

Societe General achieves significant profitability growth

Societe Generale Bank Srbija recorded profit before tax in the amount of 5.3 billion dinars (45.1 million euors), in the first semester of 2018, an increase by as much as 86% year-on-year.

At the end of the first semester of 2018 inclusive, the value of overall bank assets has reached 292 bln dinars (2.5 bln euros), a 16 percent increase, whereas the value of overall loans to clients has attained 208 billion dinars (1.8 billion euros), up by 23 percent from the same period last year.

Furthermore, since 2016, the Bank has been constantly improving its operations on the Serbian market, and good financial results have contributed to the Bank’s positioning at the 4th place by amount of assets.

Societe Generale Bank, part of one of the largest European banking groups, has reached the second position on the local market by volumes of loans granted to individuals, third by volumes of activities with corporate clients and third by size of overall credit portfolio.

“Our business model, which focuses on client satisfaction and on understanding their needs, has contributed to our continuous business growth trend, both on the side of corporate and of retail clients. We remain committed to developing the culture of innovation within our organization, as well as providing top expertise in relations with our clients”, said Maria Rousseva, President of Executive Board of Societe Generale Srbija.

Societe Generale is the oldest bank with foreign capital on the domestic market, with a presence in Serbia since 1977, when it opened its representative office for corporate clients.

Among the most important business ventures in 2017 is the takeover of a part of the loan portfolio of former clients of Jubanka, which additionally strengthened the market share.