Societe Generale Issues 2029 Financial Targets; To Pursue Cost Reduction Efforts

(RTTNews) - Societe Generale (GLE.PA) stated that, on 18 September 2026, its Board approved the Group's strategic plan and financial objectives for 2029 and beyond. The ambitious financial targets for 2029 include: cost reduction versus 2026 estimated; average annual growth in Group revenues of approximately 3% on average between 2026 estimated and 2029; ROTE between 13% and 14% in 2029 and more than 15% in 2030 and beyond; and CET1 ratio above 13%. In 2029, Societe Generale's cost base is expected to be below 16.3 billion euros, a decrease of approximately -2%, in absolute terms, compared to the 2026 estimated level.