Societe Generale Targets Boost to Profitability, Shareholder Payouts
By Adria Calatayud
Societe Generale is targeting cost cuts and revenue growth to boost its profitability through the end of the decade, and distributions to shareholders that could top 21 billion euros ($24.12 billion) over the 2026-29 period.
The French bank said Monday that it aims to reduce its 2029 costs by about 2% compared with its expected level for this year, and annual growth in group revenue of around 3% on average between 2026 and 2029.
Societe Generale Chief Executive Slawomir Krupa said the group aims to accelerate its profitable growth while maintaining cost discipline.
The bank said it is targeting a return on tangible capital--a key profitability metric for banks--of between 13% and 14% in 2029 and more than 15% in 2030 and beyond. For 2025, it reported the metric at 10.2%.
Societe Generale said it expects ordinary distribution to shareholders to exceed 13 billion euros over the 2026-29 period through a combination of dividends and buybacks, and that additional payouts of excess capital could amount up to around 8 billion euros.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
September 21, 2026 01:29 ET (05:29 GMT)
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