Societe Generale Outlines 2029 Strategic Roadmap

01:01 AM EDT, 09/21/2026 (MT Newswires) -- Societe Generale (GLE.PA) outlined its 2029 strategic roadmap, targeting revenue growth, cost reduction, and high profitability. The French lender said Monday that it targets a net cost reduction of 300 million euros between 2026 and 2029 by lowering IT spending and procurement costs, as well as job reductions through natural attrition. The measures are expected to reduce its cost base by 2% to below 16.3 billion euros by 2029. Societe Generale expects revenue to grow at an average annual rate of around 3% from 2026 to 2029. It targets a cost/income ratio of less than 55% and return on tangible capital of 13 to 14% in 2029. It also targets a CET1 ratio above 13%.