SG eyes capital savings from business exits
Sales of Eastern European and Spanish units to furnish CET1 buffer
An asset sale blitz should bolster Societe Generale’s Common Equity Tier 1 (CET1) capital ratio by 15 basis points in 2018, furthering the bank’s efforts to hit its 12% target by 2020.
On August 2, the French dealer confirmed the sale of its stakes in Express Bank in Bulgaria and Societe Generale Albania to OTP Bank, plus the disposal of its private banking unit in Belgium, and its subsidiary Boursorama’s holdings in Spain’s Self Trade Bank.
In November 2017, Societe Generale unveiled plans
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