The Gnrale, shortened SG, is belonged one of the most important business banks of France and together with the Lyonnais and the BNP Paribas to the three oldest business banks ("„les trois vieilles "“). Their original name reads Gnrale pour more favoriser de you commerce et de l' industry EN France (= general society for the promotion of the development of the trade and the industry in France).

History

1864 to 1893

The bank became during the second French empire to 4. May 1864 based, in order to promote the development of trade and industry to France. It adjusted employees and opened according to plan offices everywhere in France. 1870 possessed the bank 15 addresses in Paris and 32 in the French provinces. 1871 established it a permanent office in London. At the beginning the bank needed its own resources almost completely both for active and for 1871 expanded it their activity since the public issue market, by taking over the sales of debenture bonds, by which the reparations agreed upon in peacetime from Frankfurt be applied should. Between 1871 and 1893 France went through an economically dark time interval, which was connected with the collapse of different banks. The bank grew moderately and possessed already 1889 148 branches, which the ability of the enterprise demonstrated to get over also disadvantageous economic situations.

1894 - 1930

1894 began to develop the bank the structures, which characterize a modern major bank: It began to tighten both private and business fixed assets to make in addition, short term credits available for Industrielle and dealers. Furthermore it began with the public emission of foreign debenture bonds both in France and in Russia. The acquisition of financial participation became a secondary activity. The healthy, excellent financial performance permitted the expansion of its share structure to the bank: 1895 had the Gnrale already 14,000 of shareholders, whose number increased until 1913 to 122.000. The war years were difficult and brought by the loss of the Russia business serious consequences with itself. The Gnrale nevertheless became the prominent clearing bank of France into the 1920er years: Their branch net grew for the 1890er years importantly, with a large number of branches and seasonal offices, which made a deep penetration possible of the market in the province (1910: 260 season offices; 1930:864 season office). Owing to the dynamics of the supervisory boards and the management at the head office and the addresses it pulled regarding deposited fixed assets and the spent credits on the rival Lyonnais between 1921 and past 1928. In order to correspond to the requirements of the investing enterprises, the Gnrale created 1928 a subsidiary, Calif, which specialized in medium-term loans.

1931 - 1945

The 1930er years was again a difficult phase. Because of the declining international and French business the bank was forced to tighten their branch net by the locking of local branches. The eve of the Second World War the number of their branches was not much larger than 1922. The Gnrale was active nevertheless with the placement of numerous public loans of the state and the colonies during this time. The war and the German crew interrupted their expansion, but the bank went to Africa and into the USA.

1945 - 1964

Gnrale was put under state control 1945. It had only a shareholder: the French state. The time interval from 1945 to 1958 was characterized in France by the rapid economic how/as-those-strong, in addition, by a larger balance of payments imbalance, which required continuous rate of exchange control and almost permanent credit control measures. The economy erstarkte only starting from 1959, but the credit checks were continued, in order to work against inflationary tendencies. New business possibilities opened steep growth of production and the foreign trade to the banking. The industry experienced some radical changes; one the most important was the larger specialization of the credit system. The width of the offered bank products expanded constantly. Owing to its operational readiness level in New York the Gnrale in the conditions was to participate on the business caused by the Mars resounding plan. The Gnrale continued its expansion in France and abroad. It went to Italy and Mexico and changed the status of its business in Africa after the Entkolonialisierung in agreement with the laws of these new independent countries.

1965 - 1990

After the abolition of the duty to obtain a permit for the opening of branches 1966 the Gnrale received new impacts for its French branch net. Also their international expansion was lively. It was not longer, like before, on financial centers (London, New York) and neighbouring countries (Belgium, Spain) and the earlier colonies limits to supply with the urgent goal, French companies with credits in addition, developed addressed to make possible the operational readiness level of the bank at the bank places to those new markets, either around technical know-how to export, which had acquired it on some fields to remain or in order in contact with the Multis. The years 1966 and 1967 were a fundamental turning point during the bank legislation: The most important development was the weakening of the separation between lying close and Investmentbanking and the establishment of its own mortgage bank.

The Gnrale took advantage of this advantage and acquired themselves a prominent position with some new financial techniques, which were intended for the firm business mainly, like Finance leasing, by the establishment of specialized subsidiary companies for the respective purpose. The 1970er years was characterized by two substantial developments: by an expansion of the international branch net and the general introduction of the EDP, in order to hold with the expansion of customers and the development of the investment banking step. The appearance of automatic cash-point dispensers 1971 crowned success and the development of the credit card. Before the background of the Deregulierung and the technological change at the beginning of the 1980er years, the internationalization of the markets and emerging new financial instruments the Gnrale of two sat down: It concentrated on private consumers over its branch net and by the acquisition from specialized subsidiary companies. She pursued and extended her business activities on the French capital markets and at different selected, international bank places. On 29 July 1987 the Gnrale was denationalized. It was selected because of their excellent risk management, its own capital funds and productivity ratio under the three 1945 put under state control major banks.

Activity

Regarding the yield Gnrale is the third biggest business and Investmentbank in the euro zone and regarding its market capitalization the seventh-largest enterprise of France. It employs 92,000 coworkers, of it 75,000 in Europe, and has an operational readiness level in 80 countries. The bank is active both in the financing and in the Investment and in the investment banking.

In France the Gnrale is including its subsidiary company you north with more than 2,700 branches in the private customer business active.

Line

Since 1997 Daniel Bouton, the former chief of staff of Alain is Chairman and CEO of the Gnrale. It belongs to the enterprise already since 1991.

Stock exchange data

The Gnrale is noted at the euro NEXT stock exchange in Paris and belongs to the French stock price averages CAC 40. Their market capitalization amounted to on 1 January 2005 "€ 33,093 millions

Related links

• Website of Gnrale (on English or French)

Articles in category "Soci Grale"

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