Societe Generale and ICBC Further Enhance Cooperations

SOCIETE GENERALE AND ICBC FURTHER ENHANCE COOPERATIONS

MOU on cross-border RMB business cooperation, Cash Management, Corporate Lending, Investment Banking, and Wealth and Asset Management Signed.

Societe Generale and the Industrial and Commercial Bank of China Limited (ICBC) today announced the signing of a Memorandum of Understanding (“MOU”) in Beijing on a range of potential areas of mutual cooperation, within which both banks will leverage their international and domestic assets to further strengthen and deepen their cooperation.

Frederic Oudea, Chairman and Chief Executive Officer of Societe Generale Group and Gu Shu, Senior Executive Vice President of ICBC were present for the signing ceremony.

Under the MOU, Societe Generale and ICBC will fully collaborate on cross Cash Management and International Payments, Corporate Lending and Syndicated Loans, Investment Banking (mergers and acquisitions, equity capital markets, debt capital markets and other advisory and capital-raising activities), Wealth and Asset Management, Custodian Services, and the distribution of products, in particular wealth and asset management products.

Both banks are committed to expand collaboration and further exchange within a wide range of initiatives that draw on each other’s strengths to generate new opportunities in the markets of France and China, as well as more generally Europe, Americas and Asia-Pacific.

This announcement underscores the mutual trust of the ongoing partnership between Societe Generale and ICBC and the desire of both parties to expand the current cooperation for greater mutual benefits. The combination of Societe Generale's global networks and ICBC's strong onshore mainland presence allows both banks to partner on a broad range of businesses to offer unrivalled services to corporates and individuals.

SOCIETE GENERALE CHINA

ANNETTE CHIU
Head of Communications, China
+86 (10) 5851 3241
Annette.chiu@socgen.com.cn

JOE ZOU
Communications & Marketing Manager, China
+86 (10) 5851 3053
Joe.zou@socgen.com.cn