Sogebank
Encyclopedia
Sogebank, formally known as Société Générale Haïtienne de Banque, S.A. (Haitian Banking Corporation), is one of Haiti
's two largest private commercial banks. It was formed on November 8, 1985, when the Royal Bank of Canada
sold its Haiti-based operations to a group of Haitian investors. Sogebank has 42 branches located throughout the country in the major cities as well as several solely in Port-au-Prince
. The main Sogebank building is located in the capital on the main road of Delmas
. Nowadays, the Sogebank Group includes seven subsidiaries each concerning a separate branch of banking and transactions:
Haiti
Haiti , officially the Republic of Haiti , is a Caribbean country. It occupies the western, smaller portion of the island of Hispaniola, in the Greater Antillean archipelago, which it shares with the Dominican Republic. Ayiti was the indigenous Taíno or Amerindian name for the island...
's two largest private commercial banks. It was formed on November 8, 1985, when the Royal Bank of Canada
Royal Bank of Canada
The Royal Bank of Canada or RBC Financial Group is the largest financial institution in Canada, as measured by deposits, revenues, and market capitalization. The bank serves seventeen million clients and has 80,100 employees worldwide. The company corporate headquarters are located in Toronto,...
sold its Haiti-based operations to a group of Haitian investors. Sogebank has 42 branches located throughout the country in the major cities as well as several solely in Port-au-Prince
Port-au-Prince
Port-au-Prince is the capital and largest city of the Caribbean nation of Haiti. The city's population was 704,776 as of the 2003 census, and was officially estimated to have reached 897,859 in 2009....
. The main Sogebank building is located in the capital on the main road of Delmas
Delmas, Ouest
Delmas is a commune in Port-au-Prince Arrondissement, Ouest Department of Haiti. Delmas itself is an urban continuation of the capital city. Delmas is also the location of much of the area's commercial and industrial enterprise....
. Nowadays, the Sogebank Group includes seven subsidiaries each concerning a separate branch of banking and transactions:
- Sogebank (Commercial bankCommercial bankAfter the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
) - Sogebel (Building societyBuilding societyA building society is a financial institution owned by its members as a mutual organization. Building societies offer banking and related financial services, especially mortgage lending. These institutions are found in the United Kingdom and several other countries.The term "building society"...
) - Sogesol (MicrocreditMicrocreditMicrocredit is the extension of very small loans to those in poverty designed to spur entrepreneurship. These individuals lack collateral, steady employment and a verifiable credit history and therefore cannot meet even the most minimal qualifications to gain access to traditional credit...
) - Sogecarte (Credit card issuerCredit cardA credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services...
) - SogeXpress (Money transferMoney transferMoney transfer generally refers to one of the following cashless modes of payment or payment systems:*Wire transfer, an international expedited bank-to-bank funds transfer*Electronic funds transfer, an umbrella term mostly used for bank card-based payments...
) - Sogefac (Consumer financeConsumer financeAlternative financial services in the United States refers to a particular type of financial service, namely sub-prime lending by non-bank financial institutions. This branch of the financial services industry is more extensive in the United States than in some other countries, because the major...
) - Fondation Sogebank (PhilanthropyPhilanthropyPhilanthropy etymologically means "the love of humanity"—love in the sense of caring for, nourishing, developing, or enhancing; humanity in the sense of "what it is to be human," or "human potential." In modern practical terms, it is "private initiatives for public good, focusing on quality of...
)