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Poupet, BRD: Risk quality and profitability are the principal targetsUpdated: 15-12-2009 | Financial and Banking
As of 1 January 2010, Guy Poupet will take on the running of BRD-Groupe Societe Generale for four years, according to a decision made yesterday by the shareholders of the second-largest player in the local banking system. Patrick Gelin, the bank's current President and General Manager, will retain only non-executive Societe Generale positions next year.
"We have several priorities, such as quality of risk and profitability. We are not necessarily looking for volume or market share. We want sustainable, profitable and healthy development. If upon meeting these objectives we manage to become market leader on some segments or at the general level, I will be entirely satisfied, said Poupet for The Money Channel.
Patrick Gelin, Chairman of the BRD-Groupe Societe Generale Board of Directors, said that these changes will not bring about major modifications for the bank, and indicated that "there will be no layoffs" in Romania. Gelin recently declared for Business Standard that "2009 was a difficult year, which does not offer a clear picture of the near future."
The international economci context and decisions by the future Romanian government will be defining for the banking system's "agony or ecstasy."
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