French strategic partner assists SeABank

Hanoi (VNA) - France 's Societe Generale, strategic
partner of the Southeast Asian Joint Stock Commercial Bank (SeABank), has
provided a team of experts to assist the latter in business administration
and risk control procedures.

According to the SeABank, Societe Generale will also assist the SeABank's
in the formulation of strategies to improve its services, expand its
networks and ensure the professional development of its personnel.

This move is part of an agreement on comprehensive strategic cooperation
and technical assistance between the SeABank and Societe Generale.

In August 2008, the French bank, one of Europe 's leading financial and
banking groups, officially became the SeABank's strategic partner,
purchasing a 15 percent stake in the Southeast Asian bank.

With a 144-year history, the Societe Generale Bank now owns total assets
of over 1.68 trillion USD, employs 150,000 staff, and can boast 30 million
clients and a network covering 85 countries worldwide.

Despite the global financial crisis, the bank posted post-tax revenues of
1.74 billion Euro (2.6 billion USD) for the first half of 2008.-Enditem