Société Générale first settled in Russia through the Severnyi bank in 1901, before merging with the Russo-Asian bank in 1910, which held a majority stake in the Chinese Eastern Railway. On an international level, the bank held an active participation in the Russo-Asian Bank, one of the leading bank of the Russian empire. To satisfy the requirements of investing companies, Société Générale created a subsidiary, Calif, specialised in medium-term credit in 1928. Thanks also to the dynamism of supervisory and management staff at head office and in the branch offices it moved ahead of Crédit Lyonnais (in terms of deposits collected and loans distributed) between 19. The number of sales outlets rose from 1,005 in 1913 to 1,457 in 1933 (including those operated by Sogenal ).
However, during the 1920s Société Générale became France's leading bank: its network had grown sharply since the 1890s, with a huge number of branches and seasonal offices allowing in-depth penetration of the provincial market (260 seasonal offices in 1910 and 864 in 1930).
The war years were difficult and had serious consequences with the loss of Russian business. In 1895, Société Générale had 14,000 shareholders. The company's excellent financial health allowed it to expand its shareholding structure. Acquisition of equity stakes became a more secondary activity. It also moved into placing shares with the general public, issuing private debenture loans in France and also in Russia. As well as collecting company and private deposits, its branches started to provide short-term operating credits for industrialists and traders. Starting in 1894, the bank set up the structures characterising a large, modern credit institution. Société Générale's central branch, in Paris, now a Monument historique. In 1889, there were 148 banking outlets, demonstrating the group's capacity to withstand unfavourable economic conditions. The company continued to grow at a more moderate pace. įrom 1871 to 1893, France went through a period of economic gloom marked by the failure of several banking establishments. In 1886, Société Générale was part of the bank consortium (along with the Franco-Egyptian Bank and the Crédit Industriel et Commercial) that financed the construction of the Eiffel Tower. Talabot came to have an influential role in the bank. The bank was financially involved with some of the businesses created by Paulin Talabot, the Railway and canal engineer. In 1871, Société Générale moved into the public French issues market with a national debenture loan launched to cover the war indemnity stipulated in the Treaty of Frankfurt. Īt the beginning, the bank used its own resources almost entirely for both financial and banking operations. It set up a permanent office in London in 1871. By 1870, the bank had 15 branches in Paris and 32 in the rest of France. Coverage of France went ahead at a steady rate. The company started to hire employees and establish offices. The bank's first chairman was the prominent industrialist Eugène Schneider, followed by Edward Charles Blount. The bank was founded by a group of industrialists and financiers during the Second Empire, on May 4, 1864. Founded in 1864, its original name was Société Générale pour favoriser le développement du commerce et de l'industrie en France (English: General Company to Support the Development of Commerce and Industry in France). Société Générale is one of the oldest banks in France.
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