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Societe Generale launches retail business in China

(chinadaily.com.cn)
Updated: 2008-11-20 13:49

France-based Societe Generale has launched a retail business service in Chinese mainland, providing personal finance to domestic customers. It will also expand its network to 40 to 50 outlets in the next five years, according to Bi Pengfei, head of its personal and corporate banking for China.

Retail banking is one of the three core business areas of this Paris-headquartered financial group, which is currently the 7th largest bank in Europe. Its first such foray reflects foreign financial institutions' confidence in the Chinese market during the global economic downturn.

 

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The full text is available in the November Issue of China Banking.