Société Générale shares, GLE stock prices on the stock exchange

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ISIN code: FR0000130809
Sector: Finance
Industry: Major banks

Le actions of Société Générale are listed on Euronext Paris and on the Milan Stock Exchange under the ticker GLE.

See the share price history on Euronext Paris

Company Description

Société Générale (abbreviated as SocGen) is a French multinational banking company.
The head office is in Paris.
Société Générale is the third largest French bank by total assets after BNP Paribas e Crédit Agricole. It is the sixth largest bank in Europe and the eighteenth in the world. It is considered a systemically important bank by the Financial Stability Board.

The banking group is present in 62 countries. It operates mainly in Europe, but also has an important presence in world markets. It has approximately 138.000 employees and manages over 30 million private customers.

Le three business areas of Société Générale are:

• Retail Banking in France: through Société Générale, Crédit du Nord and Boursorama.
• International Banking and Financial Services (IBFS)
• Corporate and Investment Banking (SG CIB)

The largest revenues come from the Retail Banking sector in France (32,6% of the total).

In December 2021 Amundi, an asset management company controlled by Crédit Agricole, completes the acquisition of Lyxor Asset Management, a SocGen company, creating the second largest ETF operator in Europe. The cost of the operation is around 825 million euros.

SocGen has been present in Italy since 1967 with over 2.000 employees. Its diversified universal banking model also applies to the Italian market by operating through different companies in its three business areas: retail banking refers to the division Societe Generale Factoring (SGF); in International Retail Banking & Financial Services operates through ALD Automotive, Fiditalia, Societe Generale Equipment Finance, Societe Generale Insurance (SOGECAP, SOGESSUR); in the Corporate and Investment Banking sector it operates in Italy with Societe Generale Corporate & Investment Banking and Societe Generale Securities Services.

Société Générale is also very active in sponsorships; it is a sponsor of rugby but is active in fields such as music, contemporary art, disability sport and corporate citizenship.

The Bank is listed on the Paris Stock Exchange in the Euronext Paris index and is a component of the Euro Stoxx 50 index. The number of shares is 853,371,494; the par value of the share is 1,25 euro. The market capitalization is 29,84 billion euros.

THEshareholders, in June 2021, is composed as follows:

• The Capital Group Companies, Inc, 7,54%
• Employee shares, savings plan, 6,99%
• BlackRock Inc, 6,95%
• Amundi, 4,21%
• Caisse des Dépôts et Consignations, 2,30%
• BNPP AM, 2,17%
• Treasury shares, 0,35%

The share float is 69,50%.

Economic and financial analysis of the company

Société Générale was founded in 1864 by a group of industrialists and the Rothschild family with the aim of promoting the development of commerce and industry in France.
The bank immediately began to expand throughout the country by opening several branches.

In 1871 he had access to the French government bond market.

In 1886 the Bank was part of the banking consortium (together with the Franco-Egyptian Bank and Crédit Industriel et Commercial) which financed the construction of the Torre Eiffel.

Starting in 1894 the Bank reorganized itself as a modern credit institution.

At the end of the nineteenth century, Société Générale had become the fourth largest company by capitalization among those listed on the Paris Stock Exchange.

On the eve of the first war Société Générale was present in 14 countries.

In the interwar period, it became the leading French credit institution in terms of deposits. It increased its branch network to 1933 branches throughout the country in 1457.

In 1945 the Bank was nationalised, like the other large French deposit banks. It expands internationally by opening branches in Africa, Mexico and Italy.

Between 1966 and 1967 a reform of the French banking law led to the separation between banques de dépôt and banques d'affaire and created a mortgage market. The banking group thus created associated companies specialized, above all in leasing.

In 1987, Société Générale was privatized. Take control of Fiditalia, a company active in consumer credit in Italy.

In 1995 he founded Fimatex, which later became Boursorama, today an online bank.

In 1997 it acquired the Credit North.

In 1998, it creates Retail Banking outside France as a separate division. It is also established Lyxor Asset Management an asset management company, within the Equity Derivatives department of Société Générale Corporate and Investment Banking (SGCIB).
In the US, he pays $540 million in cash to acquire Cowen & company, a New York investment bank specializing in the healthcare, technology and communications industries.

In 1999 he acquired BRD – Groupe Société Générale in Romania and Société Générale Expresbank in Bulgaria.

In the early XNUMXs she went shopping in Africa acquiring Eqdom in Morocco (market leader in consumer credit) e Union Internationale de Banques in Tunisia.

In 2001 Société Générale became the sole shareholder of Fiditalia. Expands to Europe with the purchase of Commercial Bank of Prague and SKB Banka in Slovenia.

In the specialized financial services sector, it acquires from Deutsche Bank, ALD Automotive for the leasing and financing of multi-brand cars e GEFA for corporate sales financing.

In 2005, he bought DeltaCredit, the largest mortgage bank in Russia, from The US Russia Investment Fund for $100 million.

During the 2008 crisis, SocGen received a double loan from the State of 1,7 billion euros, repaying it, including interest, at the end of 2009. During the crisis, it was also the victim of a forde on the market at the hands of one of its operators Jerome Kerviel; Kerviel had fraudulently lost €4,9 billion, the largest such loss in history. The trial against him found him guilty.

In 2012 he implemented a corporate restructuring; sells its Greek subsidiary Geniki Bank to Piraeus Bank, divests its 77% stake in its Egyptian subsidiary National Societe Generale Bank (NSGB) to the Qatar National Bank for $1,97 billion.

In March 2014, it sold its private banking branch in Asia to the Singaporean company DBS Bank for $158 million and acquires 21% of The Caixa, through the subsidiary Boursorama.

In 2016, it sold its subsidiaries Splitska Banka in Croatia and BankRepublic in Georgia.

In 2017, Société Générale announces the IPO of its subsidiary ALD.

In July 2018 announces the acquisition of the asset management and market activities of Commerzbank. In August 2018, it sold the Bulgarian subsidiary of Société Générale, Expressbank, to OTP. OTP also takes a majority stake in Société Générale's Albanian business, Banka Société Générale Albania. Between November and December SocGen sells the Polish business under the brand Euro Bank for 484 million euros to Bank Millennium and its assets in Serbia to OTP for 108 million euros. Buy fintech Treezor, an electronic money institution.

In 2019, it reaches an agreement with OTP Bank for the sale of its majority stake in its Moldovan subsidiary, Mobia bank.

On June 30, 2020 it acquires shine 57, a neo-bank and an online service for self-employed entrepreneurs and micro-enterprises for around 100 million euros.

In December 2020, the merger of Crédit du Nord with Société Générale is announced. Buy Reezocar, French platform for the sale of used vehicles.

In December 2021 Lyxor Asset Management was sold to Amundi, an asset management company controlled by Crédit Agricole for 825 million euro.

On January 6, 2022, ALD Automotive, the subsidiary of SocGen, announced its intention to acquire LeasePlan for 4,9 billion euros; the operation should take place by the end of 2022.