SGBL participates in the Basel III conference at the ESA

SGBL was a sponsor of the « Basel III – Immunity requirements » conference which took place at the ESA on Tuesday May 3rd 2011. Centered on the Basel III recommendations, the conference was held in presence of numerous personalities of the banking sector among which the governor of the Central Bank, Mr Riad Salame and the President of the Banks’ Association, Mr Joseph Torbey.

Mr. Georges Saghbini, Deputy General Manager of SGBL, then took the word, recalling why the Basel III reforms are central to promoting financial stability. Saghbini emphasized on the impact of the new regulations on both the European and the US banking sectors as well on the sector’s main business lines (Retail, Corporate and Investment Banking). He also indicated that Basel III would reduce ROE for the average bank by about 4%.