Societe Generale Targets 13-14% Return on Equity by 2029
What happened
Societe Generale has outlined a revised strategy aimed at achieving a cost/income ratio below 55% in 2029. Under the leadership of Slawomir Krupa, the bank is targeting 3% average annual group revenue growth between 2026 and 2029. The group is also seeking a return on tangible equity of 13% to 14% in 2029.
From yahoo.com
Why it matters
The strategy includes reducing the cost base in 2029 to below €16.3bn, which is a 2% reduction from 2026 levels. These savings are intended to offset inflation and planned investments.
From yahoo.com
Who's involved
- Slawomir KrupaLeading the strategy overhaul for the bank
- Société GénéraleFrench multinational banking and financial services company implementing the strategy
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- MarketBeatSpeculative
Rating agencies might reassess their coverage as Societe Generale pursues higher profitability and cost reductions.
- CitigroupSpeculative
Rating agencies might reassess their coverage as Societe Generale pursues higher profitability and cost reductions.
- Morgan StanleySpeculative
Rating agencies might reassess their coverage as Societe Generale pursues higher profitability and cost reductions.
- Keefe, Bruyette & WoodsSpeculative
Rating agencies might reassess their coverage as Societe Generale pursues higher profitability and cost reductions.
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The entities involved
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Slawomir Krupa
French-Polish businessman
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