Archive · Business Recorder
SocGen hikes profitability target in new strategic plan
LONDON: Societe Generale lifted a key performance target out to 2029 and said it would trim costs further under a new strategic plan unveiled on Monday that forms the next phase of CEO Slawomir Krupa’s effort to drive a turnaround of the French lender. France’s second-biggest listed bank said it was targeting a return on tangible equity of between 13% and 14% in 2029, up from around 11% this year, which is far below peers, and then 15% in 2030 and beyond. SocGen’s relatively high costs and weak profitability have dogged the company for years, with Krupa vowing to change that after he took the ...
ZAZTEK archives the headline, summary and publication date so the story stays findable. The full article remains the publisher's. Read it at Business Recorder →