Societe Generale : LAUNCH OF SOCIETE GENERALE THE FUTURE IS YOU FOUNDATION IN SUPPORT OF YOUNG PEOPLE
October 08, 2021 at 03:52 am EDT
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Bringing together solidarity sponsorship and musical patronage within the new Societe Generale The Future Is You Foundation
Greater support for young people to help them to build their future
An annual budget of €7 million for the Foundation's initiatives, mainly in France and Africa
Societe Generale Group has decided to bring its solidarity and musical patronage activities under one corporate foundation, Societe GeneraleThe Future Is YouFoundation,to bolster its support and help young people in building their future. The Foundation has an annual budget of €7 million to operate, mainly in France and Africa. By supporting educational projects for young people, particularly through music or sport, and by accompanying them on their way to employment, the Group aims to develop the know-how and interpersonal skills they need to fully integrate into society.
Committed for over 30 years to classical music with its Musical Patronage Association (Association Mécénat Musical) and for more than 15 years in education and professional integration with Societe Generale Corporate Foundation for Solidarity (Fondation d'entreprise Société Générale pour la Solidarité), Societe Generale The Future Is You Foundation will give a new strength to the Group's initiatives.
"I am delighted with the creation of Societe Generale The Future Is You Foundation, which will intensify our historical commitment asa patron of classical music and in the field of solidarity, with a particular focus on our youth. Being committed to society, in which we are key players, is an integral part of our mission. I am also very proud that the Group's employees are involved in the Foundation's actions. We believe in every individual's potential and our goal is to do all we can to help them achieve it. This is the action's purpose we are carrying out." says Frédéric Oudéa, Chief Executive Officer of Societe Generale and President of The Societe Generale Foundation.
EMPLOYEE COMMITMENT
To complete the financial support, our employees are also mobilised to contribute to the Foundation's work. As an example, they can engage themselves to the Foundation with skills sponsorship alongside partner associations, through mentoring actions with young people. In France, employees can devote three days a year of their working time to the benefit of associations supported by the Foundation. In September 2021,nearly 10,000 employees took part in the Move For Youth sports and solidarity challenge, which was deployed in more than 50 countries, raising €1 million for more than 40 local and international associations working for young people.
SUPPORT FOR EDUCATION AND PROFESSIONAL INTEGRATION
In 2020, 87 projects were supported, ranging from initiatives to prevent school drop-out to post-secondary school training in web development. Societe Generale The Future Is You Foundation will continue supporting educational projects, particularly those based on music and sports. It continues to assist young people in difficulty in acquiring skills that will help them find employment and start their professional integration journey. Societe Generale The Future Is You Foundation operates mainly in France but it also supports initiatives on the African continent as part of the Africa Program launched in 2018.
EXCELLENCE IN CLASSICAL MUSIC
Societe Generale The Future Is You Foundation is also maintaining its historic work as a key player in the diffusion and promotion of classical music in France, by supporting young musicians in their professional development with grants and instrument loans. It also supports numerous orchestras and ensembles with the aim of opening up musical heritage to new audiences in every region. The Future Is You Societe General Foundation therefore remains a support for the diversity of classical music players.
The Board of Directors, chaired by Frédéric Oudéa and made up equally of employees and outside personalities, relies on three committees responsible for selecting projects: the Music Committee, the Education and Integration Committee and the Education and Integration Committee for the African continent.
Social networks: follow the Foundation on Twitter@Fondation_SG
Société Générale SA published this content on 08 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 October 2021 07:51:01 UTC.
Société Générale is one of the largest French banking groups. Net interest income breaks down by activity as follows:
- financing and investment banking (36.8%): specialized financing (for acquisitions, projects, etc.), activity on the stock, interest rate, currency exchange, and raw material markets, brokerage operations, merger-acquisition consulting, commercial banking activities, etc.;
- retail banking in France (30.7%; SG). The group also develops asset management and private banking activities (EUR 143 billion in assets under management in 2023), and provides online banking and online brokerage services (Boursorama Banque) as well as an economic and financial information Website (boursorama.com);
- provision of specialized financial and insurance services (16.5%): consumer loan, leasing, management of car fleets, professional equipment financing and insurance;
- international retail banking (16%).
At the end of 2023, Société Générale managed EUR 533.8 billion in current deposits and EUR 485.4 billion in current credits.
Net interest income is distributed geographically as follows: France (40.2%), Europe (37.4%), the Americas (8.3%), Africa (8%) and Asia/Oceania (6.1%).