The consolidation of Société Générale’s Russian subsidiaries – Rosbank, BSGV (Banque Société Générale Vostok), Rusfinance and DeltaCredit – will make it one of the largest foreign banks in Russia and place it in the upper echelons of Russian bank rankings by most criteria.
Rosbank and BSGV will be merged with Rusfinance as a consumer credit subsidiary and DeltaCredit as a mortgage subsidiary. With 650 branches in 340 cities and towns and plans to add 300 more by 2015, the consolidated Rosbank will have a strong retail presence – although still trailing state-owned Sberbank’s 20,000 branch network by a long way.
