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Societe Generale said it is targeting cost cuts and revenue growth to boost profitability through the end of the decade, including widening its use of artificial intelligence. Shares were up about 4% in early morning trading.
Societe Generale on Monday announced a new strategic plan targeting a return on tangible equity of 13% to 14% by 2029, up from around 11% this year, and aims for a cost-to-income ratio below 55% by the same year.
Societe Generale lifted its return on tangible equity target to between 13% and 14% in 2029 and aims for a cost-to-income ratio below 55% by 2029, according to a new strategic plan unveiled on Monday.