A key player from the beginning of the 20th century

In 1912, Russo-Asian Bank was among the leaders of the banking sector in Belarus possessing the biggest network of branches in the Russian empire thanks to its effective methods of management and the professional skills transferred from France as well as to the wide clientele of both North and Russo-Chinese Banks. Two years later it became the first bank in the country on all parameters. As of 1914 the assets of Russo-Asian Bank stood at 624 million roubles, representing around 14 % of the total volume of assets of all Russian commercial banks.
Societe Generale carries out an active policy of financial partnership: by rendering protection to new appeared companies, incurring a part of their initial risk, and carrying out significant capital investments in the enterprises of mining and metallurgical industry.

The history of Societe Generale’s presence in Belarus is closely bound with the entrance of the Group into the financial market of the Russian empire. Indeed, in the beginning of the 20th century, a significant part of present territory of the Republic of Belarus (including cities where branches of French bank have been opened) was a part of the Russian empire. At that time, the main achievements of Societe Generale in the Russian empire were conducted under the name of the Russo-Asian Bank.

Before the 20th century, even though Societe Generale was operating actively in the market, it did not have a representative office in the territory of the Russian empire. Aspiring to extend its presence in the empire, in 1901 the Group opened a subsidiary in St.-Petersburg called North Bank. In 1909 the Group extended the activity in Belarus by opening modern offices of North Bank in the cities of Minsk and Gomel (at that time, the most largely populated cities in the region). Later, as a result of the merger with Russo-Chinese Bank, the Bank was renamed Russo-Asian Bank.

A significant role in the development of economic relations between Europe and Asia

In 1910, Russo-Asian Bank played a significant role in the development of economic relations between Europe and Asia. The Bank’s activities contributed to a boost of trade between the two continents. However, Russo-Asian Bank was involved not only into banking, but also into commercial operations on commission terms. The Bank financed exports of silk and grain, imports of tea from China. It also financed cross-border trade operations with silver. Investments were made into different industries, factories. The Bank issued state and city bonds. The leading place in the operations of the bank was held by military, oil and tobacco industries.

Come back

In 1973 the Societe Generale Group came back in the Soviet Union and established its representative office in Moscow. Liberalization of the 1990’s let the banking Group set up a subsidiary BSGV in Russia in 1993. In 2006 two deals were done, as a result the Group purchased 20% without 1 share stake of Rosbank (parent company of Belrosbank). An option for acquisition of 30% plus 2 shares was also arranged before the end of the year 2008. The deal was carried out in February 2008. In May 2009 Societe Generale Group acquired an additional stake of 7% in Rosbank from its Russian partner Interros. After this acquisition, Societe Generale owns 64.7% of the shares of Rosbank that allowed Belrosbank to enter into the Group Societe Generale.

Russo-Asian Bank: successful results until 1917

Assuming the results of the activities of Russo-Asian Bank, Societe Generale could be proud that the Bank which had been established at the Group’s initiative in the Russian empire managed to reach 4/5 of the value of Societe Generale Group within 12 years only, although Societe Generale already had a semicentenial history. As of December 1913 the annual balance of the Russo-Asian Bank made 84 % from balance of Societe Generale.
The volume of deposits placed and loans granted by Russo-Asian Bank counted around 81% of deposits and credits of the Group. Therefore according to all indicators the development strategy of Societe Generale bank activity in the Russian empire could be stated more than successful.

Russo-Asian Bank symbolized a dynamic growth of the Russian empire economy at the beginning of last century as well as a very promising international cooperation that was suspended due to drastic changes in the politics and the economy of the country in 1917.