In many ways SG Expressbank (SGEB) is a good example of SG’s ability to transform tiny local players into flourishing universal banks.
With just 26 branches to its name when SG acquired it in 1999, SGEB has grown its network to more than 150 outlets. Last year it increased its asset base by 14.3% to Lev3.47 billion ($2.25 billion).
The strength of the SG model, however, is demonstrated by the fact that this expansion has been a product of – rather than at the expense of – a highly conservative approach to risk management.
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