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This is a list of commercial banks and other credit institutions in South Africa, as updated late 2024 by the Reserve Bank of South Africa. [ 1 ] [ 2 ] List of commercial banks
Joseph M. Cohen, Cowen's chief executive became its chairman, and Curtis R. Welling, an investment banker from Societe Generale's New York office became president and chief executive. [ 23 ] In 1998, Société Générale set up Retail Banking outside France as a separate division, underscoring the Group's resolve to make this business one of ...
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The Société générale de crédit industriel et commercial was founded on 7 May 1859, mainly on the initiative of banker Armand Donon who was supported by the politically influential Duke of Morny, as a competitor to the Pereire brothers's Crédit Mobilier on the model of successful British depository banks such as the London and Westminster Bank.
The company was founded by Alexandre Giros and Louis Loucheur as Société Générale d'Entreprises S.A. (SGE) in 1899. [4] SGE was owned by Compagnie générale d'électricité (CGE), now Alcatel, from 1966 until 1981, when Saint-Gobain acquired a majority stake.
Bank officials claim that throughout 2007, Kerviel had been trading profitably in anticipation of falling market prices; however, they have accused him of exceeding his authority to engage in unauthorized trades totaling as much as €49.9 billion, a figure far higher than the bank's total market capitalization.
[6]: 462 As a consequence, the former mainland French branches of the Compagnie Algérienne became branches of the respective regional banks of the Crédit du Nord group (itself acquired in 1997 by Société Générale), e.g. the Société Marseillaise de Crédit in Marseille, the Banque Courtois in Bordeaux, or the Banque Nuger in Vichy.
Société générale means "general company" or "general society" in French, and was included in the name of many legal entities, particularly in the 19th and early 20th centuries, starting with the Société Générale de Belgique in 1822.