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SocGen says Saudi Arabia projects are top priority, plans to step up investments

Published: Updated:

Head of corporate investment bank Société Générale’s Central & Eastern Europe, Middle East and Africa (CEEMEA) region, Michel Cohen, said Saudi Arabia is top priority for the bank as there are many opportunities in the country where it can add value.

In an interview with Al Arabiya English, Cohen said that the bank started investing financial and intellectual capital in the region, Saudi Arabia in particular, and wants to step up investments going forward.

Cohen said that the bank wants to play an important role in Saudi Arabia in terms of financing as well as advisory. “We have already started advising government entities and private investors in order for us to deliver financial and intellectual capital to the country,” he said.

He also highlighted the international markets’ interest in Saudi Arabia through the latest bonds raised by the kingdom. “There’s a lot of interest through the international financial community about the renewable energy projects which are happening in Saudi Arabia today,” Cohen said.

Société Générale’s goal, according to Cohen, is to become a “trusted advisor” to very large clients in the region and to include more Saudi citizens in its team considering its expansion plans.

He also said that clients in the UAE such as Mubadala, ADIA, Emirates and DP World are very important part of the bank’s business.

“Also in Oman we have very important clients including Omani state-owned companies, oil companies growing with very interesting projects, and we are on their side to help them finance these projects,” he said.