February 28 (SeeNews) - Societe Generale's Bulgarian unit aims to increase its market share to 10% from 7.5% at present, the bank's chief executive officer said on Tuesday.
"Our market share is 7.5% but we want to reach 10% through innovations, opening up to customers and optimisation," Arnaud Leclair, CEO of Societe Generale Expressbank, told SeeNews on the sidelines of a press event on the launch of a platform for customer interaction with the bank.
Leclair did not provide a timeframe for the achievement of the planned market share increase.
Societe Generale Expressbank is the seventh largest bank in the country with assets amounting to 5.9 billion levs ($3.2 billion/3 billion euro) at the end of 2016. Its total operating income amounted to 216.5 million levs in 2016, with net profit at 90.35 million levs.
Societe Generale Expressbank, as well as other banks on the Bulgarian market, are considering closing large offices and shifting their focus to online bank services, Leclair also said.
Expressbank was set up in 1993 in the Black sea city of Varna through the merger of 13 local banks. In 1999 Societe Generale bought 97.95% of the bank and renamed it to SG Expressbank, and later on, to Societe Generale Expressbank.
(1 euro = 1.95583 levs)