20.06.2008.

Operating License Granted to the «Societe Generale Penzije» VPF Management Company

The National Bank of Serbia has issued an operating license to the «Societe Generale Penzije» VPF management company, founded by the Societe Generale Banka Srbija a.d. Beograd and «SOGECAP - Societe Anonyme d’Assurance sur la Vie et de Capitalisation», Paris.

The «Societe Generale Penzije» VPF management company will be the first company to organize and manage two voluntary pension funds, «Societe Generale Štednja» and «Societe Generale Ekvilibrio», which will differ in terms of the degree of investment conservatism. «Societe Generale Štednjа» will target conservative investors and «Societe Generale Ekvilibrio» those moderately conservative.

Through this investment, worth EUR 1.5 million, the Societe Generale Group aims to reinforce its position in the Serbian market first entered back in 1977 with the opening of representative office in Belgrade.  In 1991, «Societe Generale Yugoslav Bank» was set up as the first bank in the country with majority foreign capital. Although for a number of years it catered to the needs of corporate clients only, in 2001 the Bank’s management made a strategic decision to engage in retail banking as well. A few years later, in 2006,  «SOGELEASE Srbija» was set up to provide leasing services in our country.

The founding of the Societe Generale Group itself dates back to 1864. The Group currently operates in 90 countries, has more than 500 branches throughout the world, employs 92 thousand people and boasts a body of more than 15 million clients. 

There are nine voluntary pension fund management companies operating in Serbia, and our citizens may now choose from a wider range of services relating to this type of old-age savings. At the same time, such accumulation of savings deposits is also expected to enable further development of the Serbian financial market.

Governor`s Office