Societe Generale Sets 15% Equity Return Target by 2030

Societe Generale announced a new strategic plan on September 21, 2026, designed to increase profitability and implement rigorous cost discipline. CEO Slawomir Krupa set a target return on tangible equity of 13% to 14% by 2029, with a further increase to 15% by 2030.

To reach these goals, the bank intends to lower its cost-to-income ratio to below 55% by 2029, down from its previous 60% target. This requires reducing overall costs to below 16.3 billion euros. The bank plans to achieve these savings through AI-driven productivity gains, reduced spending on procurement and IT, and staff reductions managed through natural attrition.

Growth initiatives include expanding the digital BoursoBank to 14 million customers by 2029. While the bank's shares rose nearly 4% following the announcement, some analysts characterized the 3% average annual revenue growth target as "somewhat low ball."