SocGen released this morning its long-expected strategy for its CIB division which has been under a transformational restructuring for about two years. Management expects a RONE above 10% which is above consensus forecasts and above our expectations. As importantly, after the French retail banking plan disclosed last December, it gives a very high visibility regarding its targets for the end of 2023. This will be a positive and supportive catalyst.
10 May 2021
An ambitious and credible plan
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An ambitious and credible plan
- Published:
10 May 2021 -
Author:
Farhad Moshiri -
Pages:
3
SocGen released this morning its long-expected strategy for its CIB division which has been under a transformational restructuring for about two years. Management expects a RONE above 10% which is above consensus forecasts and above our expectations. As importantly, after the French retail banking plan disclosed last December, it gives a very high visibility regarding its targets for the end of 2023. This will be a positive and supportive catalyst.