According to the same source, Societe Generale currently operates seven retail outlets in five Chinese cities; the bank is set to begin providing retail services to Chinese consumers once its branches are awarded RMB retail licenses from local bank regulators in Beijing, Shanghai and Guangzhou.
The move is part of Societe Generale’s decision to expand its existing private banking services in China. The bank has also announced plans to provide structured deposit and wealth management services for high-end Chinese clients.
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