The Société générale de Belgique, 1822-1997
Author(s)
Bibliographic Information
The Société générale de Belgique, 1822-1997
（Key performers in the economy, 4th publication）
Fonds Mercator, c1998
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Société générale de Belgique, 1822-1997
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Note
Also published in French and in Dutch
Bibliographical references: p. 505-506
Description and Table of Contents
Description
In 1822 in response to the need of mechanized industry for capital for its full expansion King William I of Orange founded the 'Societe generale des Pays-Bas pour favoriser l'Industrie nationale' (Netherlands General Society for the Support of Public Industry generally known as the 'Societe Generale'). The first task of the Societe Generale de Belgique - popularly known as 'the Bank' - was therefore to contribute to the progress development and prosperity of numerous sectors of the burgeoning Belgian economy which included agriculture the 'factories' and commerce. It is proof of its importance that the Societe Generale possessed the right to issue banknotes and took on the role of cashier for the state. In 1830 the Societe Generale in Belgium like Belgium itself declared its independence and became the banker of the new state. During the whole of the period from 1830 to 1914 the Societe Generale took a very active part in the expansion of the road and rail infrastructure of the young state and provided the financial means necessary for setting up its industrial activities.
In 1850 the National Bank was set up taking over the torch from the Societe Generale of Belgium as bank of issue and state cashier. From then on the Societe Generale could devote itself entirely to commercial banking and to its role as a provider of venture capital. It also followed the lead of the ruler Leopold II in his projects overseas. After the First World War and the 1929 crisis a Royal Decree of 1934 necessitated the separation of banking activities and the venture-capital role. This resulted in the emergence of the Generale du Banque and the Societe Generale de Belgique; the latter was the bank's majority shareholder. Since then the Societe Generale de Belgique has played an active role in numerous key sectors of the country's economy. Currently it has the function of 'professional' shareholder; in other words preference or majority shareholder in eight large industrial and service sector enterprises. The history of the Societe Generale since 1822 also describes two centuries of the economic social and political history of Belgium.
Throughout the Belgian revolution two World Wars the Cold War and several economic crises the Bank has experienced history but also often written it. Many of the principal actors in the story of the Societe Generale have also played a prominent role in the history of the country.
by "Nielsen BookData"
