Societe Generale SA on Monday presented its mid-term strategy for its global banking and investor solutions unit, which includes investment banking and asset management, saying it plans to cut costs and keep risks under control.
The French bank said that the plan also aims to make the unit’s results less exposed to wild changes in the market. In the first months of last year, the bank was hit by a collapse in stock-trading revenue.
SocGen targets for the unit a profitability on normative equity, or RONE, of over 10% from 2023.