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CGA and Air France sign factoring deal

Societe GeneraleLondon, Decembre 12th, 2012 – CGA, Societe Generale’s French factoring subsidiary, has finalised in December a deal to provide factoring services to Air France. Through close dialogue and cooperation, CGA was able to tailor their services to suit Air France’s needs, offering non-recourse factoring up to an agreed amount of EUR 250m.

his operation is a new step in the close relationship between Societe Generale and Air France and shows the will of Societe Generale to support its clients and their needs by offering tailor-made solutions and innovative services.
CGA currently provides factoring services to approximately 4,600 clients of all sizes, based in France and around Europe.

Societe Generale
Societe Generale is one of the largest European financial services groups. Based on a diversified universal banking model, the Group combines financial solidity with a strategy of sustainable growth, and aims to be the reference for relationship banking, recognised on its markets, close to clients, chosen for the quality and commitment of its teams.
Around 160,000 employees, based in 77 countries, accompany more than 33 million clients throughout the world on a daily basis. Societe Generale’ teams offer advice and services to individual, corporate and institutional customers in three core businesses:

  • Retail banking in France with the Societe Generale branch network, Credit du Nord and Boursorama
  • International retail banking, with a presence in Central and Eastern Europe, Russia, in the Mediterranean basin, in Sub-Saharan Africa, in Asia and in the French Overseas Territories
  • Corporate and investment banking with a global expertise in investment banking, financing and global markets.

Societe Generale is also a significant player in specialised financing and insurance, private banking, asset management and securities services.
Societe Generale is included in the socially-responsible investment indices FTSE4Good and ASPI.
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