The French lender has raised its return on tangible equity goals as part of a new plan to reduce costs and increase payouts to investors.
Key facts
- •Societe Generale announced the new strategy on Monday.
- •The bank aims to reduce costs as part of its updated plan.
- •The target for return on tangible equity is set at 13% to 14% for 2029.
- •The bank projects a return on tangible equity exceeding 15% after 2029.
- •The strategy includes plans to boost investor payouts.
Societe Generale announced a new strategic plan on Monday aimed at cutting costs and boosting investor returns. The French bank has increased its target for return on tangible equity, setting new goals for the coming years.
By the numbers
13% to 14%
return on tangible equity target for 2029
more than 15%
return on tangible equity target after 2029
Updated Profitability Goals
Under the new strategy, Societe Generale aims to reach a return on tangible equity between 13% and 14% by 2029. Following that period, the bank expects to achieve a return on tangible equity of more than 15%.
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This article was independently rewritten by ManyPress editorial AI from reporting originally published by Bloomberg Markets.
