Societe Generale made its advent in India in 1978, with the establishment of a Representative Office in Delhi. SG opened its first full-fledged banking branch in Mumbai in 1985 following the closure of the Representative Office, and opened a second branch in Delhi, in 1993.
Operating under the license of a Scheduled Commercial Bank in India, Societe Generale offers a broad range of banking facilities and services from Customer Deposits and Plain Vanilla Working Capital Loans, Term Loans, Trade Finance and Corporate FX to more sophisticated Investment Banking products such as Structured Finance and Derivatives.
Services such as Correspondent Banking, Offshore Energy Hedging and Commodity Derivatives are also made available to Indian banks and clients. Joint ventures and subsidiaries play a paramount role in SG India's strategy. The following entities were formed as joint ventures and subsidiaries in India, including SG GSC:
A 100% subsidiary of SG Group, it offers Equity Broking Services in India, Execution on F&O segment for all clients and Clearing on F&O segment for captive businesses. This entity also has the ability to offer algo trading to its clients, as permitted within the regulatory framework.
Societe Generale currency has a joint venture with State Bank of India for its Asset Management Business; 37% is owned by Societe Generale Asset Management (Amundi Group). SBI MF is one of the largest mutual fund companies in India.
It develops savings solutions to meet the needs of over six million retail customers in India, and proposes tailor-made investment management capacities to domestic and foreign Institutional Investors. There are six million Retail and Institutional Domestic Investors and six Overseas Institutional Clients.
A 100% subsidiary of SG Group that offers Operating Lease of passenger cars and Fleet Management services to corporate clients.
Customised solutions through a comprehensive range of value-added services designed to reduce cost, improve productivity and enhance satisfaction to the corporate and individual services provided by ALD which include Car Policy Review, Analysis and Optimisation, Maintenance and Repairs, Door-to-Door Service (Pick and Drop Facility), Emergency Roadside Assistance, Replacement Vehicles, Insurance and Risk Management, and Fuel Management.
A 35% joint venture with State Bank of India, SBI-SG offers a wide range of services covering securities custody and fund accounting activities for various asset classes that include Equity, F&O, Bonds and Government Securities. SBI-SG services — both foreign and domestic investors — including Foreign Institutional Investor (FII), Foreign Venture Capital Investor (FVCI), Foreign Direct Investment (FDI), Qualified Foreign Investors (QFIs), and domestic clients like Financial Institutions (FI), Mutual Funds (MF), Insurance Companies, Pension Funds, Portfolio Management Services (PMS), Banks and Corporates. A state-of-the-art system and application exist to support its wide spectrum of clients / activities.
Newedge, a world-leading derivatives broker, is 100% owned and controlled by Societe Generale. The bank provides Newedge with a solid equity base and lends support via the strength of their balance sheets and credit ratings. Newedge is empowered to act independently from the trading activities of its parent bank, thus minimizing potential sources of conflict of interest.
The core business of Newedge comprises futures and options on listed financial and commodity markets. It has developed its business to be a world leader in execution and clearing.