SocGen Lifts Profitability Target in New Plan

🇫🇷 Bloomberg (FR) —

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Societe Generale has raised its profitability targets, aiming to increase its return on tangible equity to between 13% and 14% by 2029, and over 15% thereafter. The French lender is implementing a new strategy focused on cost-cutting and boosting investor payouts.

Societe Generale lifted its profitability target as lifted the lender’s profitability target aims to cut costs and boost investor payouts with a new strategy. The French lender increased the goal for its return on tangible equity to between 13% and 14% in 2029 and to more than 15% after that, according to a statement Monday. Bloomberg's Tom Metcalf reports. (Source: Bloomberg)

Markets Deals Societe Generale profitability target financial strategy cost-cutting investor payouts French lender

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