A decentralized quality management system
 At Société Générale, quality is a core commitment that applies to everyone, with each manager and each member of staff expected to apply the highest standards to all aspects of their activity.
In addition, within a number of entities, managers were also keen to be able to draw upon those teams that work exclusively on Quality procedures and tools as well as upon the resources of the Quality Department teams themselves. This was the case at Crédit du Nord, throughout the French network and in most of the Group's specialized subsidiaries as well as in a number of foreign entities.
In order to encourage best practices within the various Group entities and promote the notion of quality, a central Quality Department was set up as early as 1993. Composed of four senior consultants that work alongside the Head of Quality, including one European EFQM assessor, a AFAQ-AFNOR certified auditor, a sustainable development assessor and three "black belt" Six Sigma, the department reports to the General Management via the Corporate Secretariat.
In order to promote and heighten awareness as to the Group's quality commitment, the Quality Department draws upon a network of nearly 100 quality managers and a broad spectrum of communication tools such as the Group's Quality intranet website, practical Quality tip sheets and methodology kits, etc.
Moreover, the department also organizes workshops and training sessions throughout the year (in 2007, over 300 members of staff took part) as well as a half-yearly Quality Forum which is attended by some 500 employees.
The department actively encourages the setting up of Quality clubs and groups (call center clubs, Quality audit teams, Six Sigma, etc.) and works on the definition of internal and external benchmarking practices.
The most valuable experiences gained in the field are then published in a quarterly newsletter “Réussir” which is printed in nearly 60,000 copies.
Lastly, the Quality Department also advises and assists entities in selecting and implementing the performance tools and methods best suited to their respective activities, such as an EFQM evaluation or the use of Balanced Score Cards.
In France, Société Générale is an active member of the AFAQ's "Environment" and "Services to the Public" certification committees (ISO 9001, 14001 and sustainable forest management - PEFC - certification)
Proven results
With a constant focus on progress, Société Générale continually seeks to improve the performance of its products and services, greater transparency and simplicity and high quality data and advice in order to open up the bank to an even broader spectrum of clients whilst at the same time nurturing individual and proactive relationships with each customer.
This policy of using quality to enhance customer loyalty has proven an out-and-out success as the uninterrupted growth in our business assets and the various external awards won to date clearly show.
Just some of the awards in recognition of our quality policy
Retail Banking
Each year, Forrester’s “Customer Advocacy” survey measures the opinion of customers of European banks. In 2007, 27% of French customers believed their bank “acted in their best interests” (31% in 2006). Société Générale comes top of the French banks with 40% (vs. 30% in 2006) and is ranked 5th European bank (behind four cooperative banks). |
Corporate and Investment Banking
- Société Générale Corporate & Investment Banking was named Euro Bond House of the Year by IFR. This award is in recognition of the bank’s lead in the euro debt capital markets for businesses, financial institutions and sovereigns. According to the magazine: “Société Générale Corporate & Investment Banking unapologetically concentrates its efforts in the euro market (…) and it is consequently a sector where the firm’s inside knowledge is second to none”.
- For the fifth year running, Société Générale Corporate & Investment Banking was named “Equity Derivatives House of the Year” by the Banker.
- According to Euromoney magazine, Société Générale Corporate & Investment Banking was voted No. 1 for its European Fixed Income research by institutional investors, and is ranked first in seven categories, notably in “Investment Grade Credit Research” and “Trade Ideas”.
Credit research awards (Corporate & Investment Banking)
With this survey, institutional investors have recognized the bank’s expertise by awarding it the best rankings in the following categories:
No. 1 in Investment Grade Credit Strategy
No. 1 in Credit Research and Quantitative Modeling
No. 1 in Investment Grade Research: Consumer & Services, Industry, Telecoms & Media
No. 1 in Western European Sovereign Research
No. 1 in Interest Rate Products Strategy
No. 1 for Recommendations on Investment Grade Credit Products
No. 1 for Recommendations on Cross Asset Products
No. 2 in Credit Derivatives Research
No. 2 in Hybrid Securities Research
No. 2 in Inflation Products Strategy
Société Générale Corporate & Investment Banking has therefore moved up the rankings from fifth last year in this classification to first, confirming clients’ interest in the model that SG CIB has developed over the last few years: independent research, combining expertise, excellence, added value and a “Cross Asset” approach.
The results of this survey also reflect Société Générale Corporate & Investment Banking’s progress in Fixed Income activities and the priority that the bank gives to serving its clients. |
- At the 2007 Energy Risk Awards, Société Générale Corporate & Investment Banking received two awards from Energy Risk magazine, a benchmark publication in the field of energy risk management.
- The bank received awards in two major categories: “House of the Year, Oil & Products” and “Deal of the Year” for MX Energy in 2006. Awarded by Energy Risk’s editorial staff and an independent expert, the Energy Risk Awards are a sign of quality in the energy risk management markets in the United States, Europe and Asia.
- Société Générale Corporate & Investment Banking received awards from several magazines for its export financing business in 2007 (voir encadré 2)
Export Financing awards (Corporate & Investment Banking)
Société Générale Corporate & Investment Banking again received awards from several magazines for its expertise in export financing in 2007:
- six “Deals of the year 2006” by Trade Finance Magazine (March 2007)
- three “Best Deals 2006” by Global Trade Review (March/April 2007)
- one “Deal of the Year 2006” by Project Finance International (2007 Yearbook)
- one “Deal of the Year 2006” by Project Finance Magazine (March 2007)
Transactions rewarded by Trade Finance Magazine:
- Brazil: buyer credit representing USD 150 million covered by the Finnish export credit agency and a USD 50 million financial loan for the financing of a new production line at the Mucuri plant, for Suzano Papel eCeluose in Brazil.
- Bulgaria: a EUR 450 million loan for the refinancing of the Maritza East III power station project in Bulgaria guaranteed by the Italian export credit agency.
- Azerbaijan: buyer credit representing EUR 13.7 million covered by the German export credit agency and consisting of deposit finance via a letter of credit with deferred payment in favor of the International Bank of Azerbaijan, for the financing of a cotton processing plant in the United Arab Emirates.
- India: buyer credit representing USD 154 million covered by the South Korean export credit agency with Chambal Fertilisers and Chemicals Limited for the financing of three tankers. This is the first transaction in India with the South Korean export credit agency involving shipping finance.
- Vietnam: a USD 121 million finance plan consisting of buyer credit with the German export credit agency and an associated financial loan in favor of Ho Chi Minh Ville Investment Fund for Urban Development (HIFU) for the construction of the Phu My bridge on the Saigon river. This is the first transaction in Vietnam to benefit from a State guarantee when the project manager is a private company. |
Asset Management
- SBI Mutual Fund, SGAM’s joint venture in India, was named Mutual Fund of the year 2007 by CNBC- CRISIL . Five of its funds also received awards for quality and investment performance. SBI MF intends to be one of the top three management funds in India by 2008. State Bank of India is the country’s leading bank with a 25% share of the deposits market and 110 million customers. Through cross-selling, SGAM provides foreign investors with easier access to SBI MF’s best performing investment strategies.
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