Societe Generale Equipment Finance opens a subsidiary in Brazil

Paris, 11 September 2008. Following the opening of new subsidiaries in China, Ukraine, USA and Croatia, Societe Generale Equipment Finance pursues its geographical expansion by launching its activity in Brazil. 

The economic development of Brazil in the last few years (+4.5% per year on average between 2003 and 2007) has significantly boosted the development of the leasing market. Through this new subsidiary, Societe Generale Equipment Finance confirms its strategy of supporting global capital equipment vendors in the markets where they are established. 

The new entity will rely on Societe Generale Equipment Finance’s unique organization which combines the skills of a dedicated local sales force and specialists expertise in its main sectors: Industrial and High Tech Equipment. It will also contribute to the creation of income and cost synergies together with Banco Société Générale Brasil, present since 1981, and the other entities of the Group established in Brazil: operational car leasing and fleet management with ALD Automotive and consumer finance activity with Banco Cacique and Banco Pecunia. 

Societe Generale Equipment Finance is now present in 25 countries worldwide.