The Societe Generale SPO stock of France has been battered in the past few months due to the credit crisis and more recently due to a huge loss incurred by the bank as a result of actions of a rogue trader named Jerome Kerviel.The bank officials took decisive action and closed up positions even as the market was melting down worldwide. The rogue trader had gambled about £60 Billions.

You can read more about this stunning story here from the Evening Standard in UK:

Face of ‘world’s biggest bank fraudster’

The Societe Generale ADR stock (called lovingly as SOCGEN) – SCGLY.pk has fallen over 50% from a 52 Week high of $43+ to $21+ now. This is an excellent opportunity to pick up Socgen at this sale price. Events such as this fraud will eventually go away and the bank will return to its previous glory as a top world class bank and a wonderful investment in a few months.

Investing in SocGen is a smart move due to many reasons.
Some of them are:

• SocGen operates in 77 countries and has 120,000 employees
• Société Générale dates back to 4 May 1864, date of the authorization decree signed by Napoleon III.
• Is a leading financial institution in the Euro Zone and the world
• Is a component stock of the CAC 40, DJ STOXX 50, DJ EURO STOXX 50, MSCI Europe, FTSE Eurotop, FTSE4GOOD & Dow Jones Sustainability Index World indexes.
• Increased dividends for most of the past 10 years
• Has a dividend Payout Ratio of over 40% for the past 5 years
• Has an yield of about 4%
• The ADR SCGLY.pk has been active since July,1993