French retail banking giant Societe Generale has established a new Portuguese division focused on providing consumer finance in the auto and retail markets.
The new venture, called CrediAgora, will be based in Sintra near Lisbon. According to Societe Generale, the new business will provide financing solutions across a comprehensive range of products in the car financing and retail sectors.
The French bank says the new business fulfils its core strategy to expand its consumer finance business outside of France and into other European countries.
Furthermore the new set up will complement its existing specialized financial services division which already provides car leasing and fleet management services in Portugal.