Net profits were up by 35.5%, RoE reached 25.3%, and expansion in businesses identified as growth drivers strengthened the bank’s position in high-potential markets and enhanced coverage and products to the bank’s individual and corporate clients.
“In 2006, we made a number of significant acquisitions, which offer considerable growth potential,” says Daniel Bouton, chairman and CEO of the SG Group. “We reinforced our position in central and eastern Europe with the acquisition of Croatia’s Splitska Banka. SG Securities Services is a top three player in Europe following the acquisition of UniCredit’s custody and fund administration businesses. And the purchase of a 20% stake in Rosbank gives SG greater penetration of the burgeoning Russian market.
“SG CIB has built world-class businesses in equity derivatives and securitisation – two asset classes set to grow rapidly in coming years. I would like to highlight the strong performance of our French retail network, whose revenues have risen by more than 5% each year for the past five years – an impressive feat in a highly competitive, mature market.”
