Société Générale has its presence in India since 1978, offering a range of financial products to the Indian market.
The bank’s businesses in India are: Société Générale Corporate and Investment Banking, Asset Management jointventure with State Bank of India (SBI), Private Banking, ALD Automotive, SG Asia Holdings, Family Credit, Life Insurance jointventure with Indiabulls, Securities Services jointventure with SBI, and Société Générale Global Solution Centre. The staff strength in India has exceeded 2000.
Securities Services jointventure with SBI
• This entity will offer Custody and Fund Administration services . It is still at the set-up stage, and the start of operations is expected by early 2009.
Life Insurance jointventure between Sogecap ( The Group Life Insurance Subsidiary) and Indiabulls
• This entity is at the start-up stage and is going though regulatory approval process (has applied for license).
• It will be a part of the Insurance Business Line (Specialized Financial Services) in Société
Générale.
• It will provide a broad range of life insurance products:
- Unit Linked Life Insurance Plans (ULIP).
- Traditional endowment.
- Pension.
- Term Life.
- Credit Life.
- Indiabulls Financial Services Limited.
- Tied insurance agents appointed by the company.
- Other corporate agents and brokers.