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Are you a client? You should contact your private banker. 
You are not a client but would like to have more information about Societe Generale Private Banking? Please fill in the form below.

Local contacts

France : +33 (0) 1 42 14 20 00 (9am - 5pm)
Luxembourg : +352 47 93 11 1 (8:30am - 6pm)
Monaco : +377 97 97 58 00 (9/12am - 2/5pm)
Switzerland : Geneva +41 22 819 02 02
& Zurich +41 44 218 56 11 (8:30am - 5:30pm)

You would like to contact about the protection of your personal data?

Please contact the Data Protection Officer of Societe Generale Private Banking France by sending an email to the following address : protectiondesdonnees@societegenerale.fr.

Please contact Bieneke Russon, the Data Protection Officer of Societe Generale Bank & Trust Luxembourg by phone : +352-47.93.93.11.5046 or by sending an email to the following address : lux.dpooffice@socgen.com.

Please contact Julien Garnier, the Data Protection Officer of Societe Generale Private Banking Monaco by sending an email to the following address : list.mon-privmonaco-dpo@socgen.com

Please contact Omar Otmani, the Data Protection Officer of Societe Generale Private Banking Switzerland by sending an email to the following address : sgpb-gdpr.ch@socgen.com.

You need to make a claim?

 Any claim addressed to Societe Generale Private Banking France should be sent by e-mail to the following address : FR-SGPB-Relations-Clients@socgen.com or by mail to : 

Société Générale Private Banking France
Direction Commerciale
29 boulevard Haussmann CS 614
75421 Paris Cedex 9

The Bank will acknowledge your request within 10 days after receipt and provide a response to your claim within 60 days of receipt. If your request requires additional processing time (e.g. if it involves complex researches…), the Bank will inform you by mail. 

In the event that the response you receive does not meet your expectations, we suggest to contact : 

 

The Societe Generale Group’s Ombudsman

The Societe Generale Group’s Ombudsman can be contacted by the following website : mediateur.societegenerale.fr  or by mail :

Le Médiateur auprès de Société Générale
17 Cours Valmy 
92987 PARIS LA DEFENSE CEDEX 7
France

In reviewing any matter, the Ombudsman undertakes the consideration of both the client’s and the bank’s point of view, evaluates arguments from each of the parties and makes a decision in all fairness.

The Group’s Ombudsman will respond to you directly within two months of receipt of the written submissions of the parties relating to the claim.

 

The Ombudsman of the AMF

The Ombudsman of the Autorité des Marchés Financiers (AMF) can be contacted at the following address :

Médiateur de l'AMF, Autorité des Marchés Financier
17 place de la Bourse
75082 PARIS CEDEX 02
FRANCE


The Insurance Ombudsman

Please contact the Insurance Ombudsman : contact details must be mentioned in your insurance contract.

To ensure that your requests are handled effectively, any claim addressed to Societe Generale Bank & Trust should be sent to:

Private banking Claims department
11, Avenue Emile Reuter
L-2420 Luxembourg

The Bank will acknowledge your request within 10 days and provide a response to your claim within 30 days of receipt. If your request requires additional processing time (e.g. if it involves complex research), the Bank will inform you of this situation within the same 30-day timeframe.

In the event that the response you receive does not meet your expectations, we suggest the following :

Initially, you may wish to contact the SGBT Division responsible for handling claims, at the following address:

Corporate Secretariat of Societe Generale Bank & Trust
11, Avenue Emile Reuter
L-2420 Luxembourg

If the response from the Division responsible for claims does not resolve the claim, you may wish to contact Societe Generale Bank & Trust's supervisory authority, the Commission de Surveillance du Secteur Financier (Financial Sector Supervisory Commission) :

By mail: 283, Route d’Arlon L-1150 Luxembourg
By e-mail:direction@cssf.lu

 Any claim addressed to Societe Generale Private Banking Monaco should be sent by e-mail to the following address: servicequalite.privmonaco@socgen.com or by mail to our dedicated department : 

Societe Generale Private Banking Monaco
Middle Office – Service Réclamation 
11 avenue de Grande Bretagne
98000 Monaco

The Bank will acknowledge your request within 2 days after receipt and provide a response to your claim within 10 days of receipt. If your request requires additional processing time (e.g. if it involves complex researches…), the Bank will inform you of this situation within the same 30-day timeframe. 

In the event that the response you receive does not meet your expectations, we suggest to contact the Societe Generale Private Banking Direction that handles the claims by mail at the following address : 

Secrétariat Général de Societe Generale Private Banking Monaco 
11 avenue de Grande Bretagne 
98000 Monaco

Any claim addressed to the Bank can be sent by email to: sgpb-reclamations.ch@socgen.com
Clients may also contact the Swiss Banking Ombudsman : www.bankingombudsman.ch

Weekly Update - Rising interest rates: the question of the sustainability of private debt

Discover the weekly economic outlook of our Investement Strategy team.

In an environment of high inflation, central banks have started to tighten financial conditions. In the United States and the United Kingdom, monetary authorities have already begun a cycle of rate hikes with the objective of reaching a neutral level in the coming quarters and have also announced balance sheet reduction programmes. In the Euro area, the ECB is expected to stop its net purchases in Q3-2022 and is expected to start raising its key rate at the end of the year. This is already translating into interest rate hikes (e.g. for home loans) and tighter financial conditions. This new context now raises the question of the sustainability of private sector debt, the level of which increased during the sanitarycrisis.

Although interest rates are rising, household debt is not at risk at this stage. First, over the last ten years, with the exception of France, households in the Euro area and the United States have largely reduced their debt levels (Graph 1), while the share of floating rate debt has also decreased. Second, household debt servicing remains moderate following years of low interest rates. Thirdly, households are in generally good financial health after the Covid crisis. Indeed, the support measures taken during the health crisis have kept household incomes stable or even increased. These measures also resulted in a significant jump in household savings rate. Thus, because of their robust financial balancesheet, households seem to be able to resist the new contextof rising interest rates.

For the corporate sector, the situation appears more mixed, as well as more contrasted from one country to another. Indeed, in Spain and Italy, two of the countries that suffered most from the 2011 debt crisis, corporate debt has also fallen considerably over the last ten years. In France, however, the situation is quite different, with the countries' companies experiencing the largest increase in debt among the major economies (Graph 2). It should be noted, however, that a significant proportion of this debt comes from state-guaranteed loans, thus reducing the risk associated to these debt. In the other major developed economies, corporate debt has also increased in the context of the global health crisis, but this increase is more moderate and has been accompanied by an upsurge in liquid assets. As a result, “net” debt remains broadly stable,reducing credit risk in the context of tighterfinancial conditions.

In essence, rising interest rates do not pose a systemic risk or an immediate risk to financial stability. The tightening of financial conditions is expected to slow down the economy but households and companies appear to be able to cope with the new environment. The private debt situation (households and companies) of some major economies – China, South Korea and France in particular – remains to be monitored, although debt servicing remains at sustainable levels for now.

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Clémentine Gallès Chief Economist and Strategist Societe Generale Private Banking