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Societe Generale (SOGN.PA)

SOGN.PA on Paris Stock Exchange

22 Jul 2016
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Latest Key Developments (Source: Significant Developments)

EDF said to pick JP Morgan, HSBC,Societe Generale SA and BNP Paribas SA for 4 billion Euro fundraising- Bloomberg
Monday, 27 Jun 2016 08:59am EDT 

: EDF said to pick JP Morgan, HSBC,Societe Generale SA and BNP Paribas SA for 4 billion Euro fundraising- Bloomberg,citing sources Source (http://bloom.bg/298ifyF) (Bengaluru Newsroom) (((+91 80 6749-1130; within U.S. +1 646 223 8780);)).  Full Article

Societe Generale and La Banque Postale announce pooling of payment systemes
Tuesday, 21 Jun 2016 05:55am EDT 

Societe Generale : Societe Generale and La Banque Postale announce pooling of payment systemes in a partnership with Sopra Banking Software . Agreement between Societe Generale and La Banque Postale aims to extend activities of their JV, Transactis Further company coverage: [SOGN.PA] (Gdynia Newsroom:) ((Gdynia.newsroom@thomsonreuters.com; +48 58 772 09 20;)).  Full Article

Societe Generale chief to testify to French senate on Panama Papers - FT
Monday, 11 Apr 2016 09:03am EDT 

Societe Generale:The chief executive of Société Générale is to be hauled in front of the French senate on Tuesday to answer questions about his bank’s role in setting up offshore companies for clients in Panama. - FT.Frédéric Oudéa has been called to appear after the bank was identified in the Panama Papers data leak as the fourth most prolific user of law firm Mossack Fonseca to set up offshore shell companies.It commissioned the creation of 979 such companies for clients.SocGen admitted last week that it had set up accounts for clients via Mossack Fonseca but said that media reports were giving rise to “outrageous misconceptions”.The bank said that it closed operations in Panama as well as Philippines and Brunei because they were on the OECD “grey list”. The offshore companies set up by SocGen were not owned by the bank “but by clients,” it said.The SocGen board reiterated its support for management on Friday and said the bank was “especially vigilant” around the application of rules and safeguards against money laundering and tax evasion.  Full Article

Societe Generale headquarters searched in Panama probe - Reuters News
Sunday, 10 Apr 2016 02:21am EDT 

Societe Generale:French tax police searched Societe Generale's headquarters this week as part of an investigation into offshore accounts revealed by the Panama Papers, the bank said on Sunday. - RTRS.The searches on April 5 were a "normal development in the context of such an investigation", a spokesman for the bank said, declining to comment further.According to the Journal du Dimanche newspaper, the searches were ordered to try to identify holders of offshore companies set up by the bank via Panamanian law firm Mossack Fonseca.A leak of millions of files from the firm has cast a global spotlight on the creation of more than 200,000 companies in offshore tax havens, implicating scores of politicians and business figures.Societe Generale was identified by Le Monde earlier this week as the fourth most prolific creators of offshore shell companies via Mossack Fonseca, with 979 to its name.Following Le Monde's initial report, part of an international investigation by more than 100 news organisations.Societe Generale accused the daily of using "inconsistent information which gives rise to outrageous misconceptions".  Full Article

Societe Generale - EU cuts SocGen antitrust fine by about half to 227.7 mln euros - Reuters News
Wednesday, 6 Apr 2016 05:04am EDT 

Societe Generale:European Union antitrust regulators have cut Societe Generale's rate rigging fine by 49 percent to 227.72 million euros ($259.24 million) after the French lender recalculated the value of its sales. - RTRS.France's second-largest bank was hit with a fine of 446 million euros in December 2013, one of seven banks charged with rigging the euro interbank offered rate (Euribor) as a cartel."The amended fine is based on the amended value of sales data provided by Societe Generale in February 2016 after the bank realised that it had initially provided incorrect data to the Commission," the European Commission said in a statement.SocGen announced the reduced fine last month but did not provide a figure.  Full Article

Societe Generale to cut 125 investment banking jobs - Reuters News
Sunday, 3 Apr 2016 08:43pm EDT 

Societe Generale:Societe Generale says it plans to cut 125 jobs at the GBIS investment banking division - RTRS.Plans to cut 90 French trading room jobs and 35 posts at Lyxor asset management unit will be put to unions on Monday, bank says.  Full Article

Societe Generale signs share purchase agreement to acquire 100% of Kleinwort Benson
Monday, 14 Mar 2016 08:00pm EDT 

BHF Kleinwort Benson Group SA:Societe Generale signs a share purchase agreement to acquire 100 pct of Kleinwort Benson from the Oddo Group.Societe generale signed a share purchase agreement to acquire 100 pct of Kleinwort Benson and Kleinwort Benson Channel Islands Holdings Limited.Subject to regulatory approvals, Kleinwort Benson will be acquired and eventually combined with Societe Generale Private Banking Hambros.  Full Article

Societe Generale says to cut 550 jobs over five years
Wednesday, 9 Mar 2016 12:41pm EST 

Societe Generale:French bank Societe Generalesaid it would shed 550 jobs over five years as part of consolidation of its 20 French client treatment centres into 15 sites.The bank said that the plan, part of a push to cut costs at its retail network while investing in digital banking, would not rely on mandatory redundancies.  Full Article

Societe Generale - UBS, others reach $103 million muni bond rigging settlements - Reuters
Wednesday, 24 Feb 2016 10:38pm EST 

Societe Generale:UBS AG and five other banks and brokerages agreed to pay roughly $103 million to settle claims that they conspired to rig prices for U.S. municipal securities.Wednesday's accords include payments of $100.5 million to investors. Two of the defendants, France's Natixis SA and Societe Generale, also agreed to pay $2.8 million to resolve related claims by 21 U.S. states and Washington, D.C.If approved by a federal judge, the private settlements would end nearly eight years of class action litigation, and result in more than $226 million of payouts from 11 defendants, led by $44.6 million from JPMorgan Chase & Co.Several banks have during that time also agreed to pay more than $740 million, led by JPMorgan's $228 million, to resolve related probes by the U.S. Department of Justice and state regulators. At least 17 people were convicted or pleaded guilty, the Justice Department has said.Wednesday's private settlements included $32 mln with UBS, $28.45 mln with Natixis, $25.41 mln with Societe Generale, $9.75 mln with Piper Jaffray Cos, $3.5 mln with Royal Bank of Scotland Group Plc's National Westminster Bank, and $1.4 mln with George K. Baum & Co, court papers show.Other defendants that have settled with investors and regulators are Wells Fargo & Co WFC.N, Bank of America Corp BAC.N and General Electric Co GE.N, UBS has also settled with regulators, and Morgan Stanley MS.N with investors.  Full Article

Societe Generale proposes dividend of 2.0 euro per share
Thursday, 11 Feb 2016 12:53am EST 

Societe Generale:Socgen says proposed dividend of 2.0 euro per share vs 1.2 euro in 2014, paid in cash.  Full Article

French and Benelux stocks-Factors to watch on July 19

PARIS, July 19 Below are company-related news and stories from French and Benelux media which could have an impact on the region's markets or individual stocks.