SCGLF - Societe Generale: Disposals In The Right Direction

2024-04-17 04:29:48 ET

Summary

• Société Générale sold its Africa operations and the Equipment Finance division. This favoured SocGen's capital build.
• CEO Slawomir Krupa plans to sell more assets as part of the bank's rationalization strategy.
• Despite the investor disappointment at the Capital Markets Day, we appreciate the CEO's patient approach. From a valuation standpoint, the SocGen valuation looks cheap.

Following two disposals in less than a week, today we are back to comment on Société Générale (SCGLY)(SCGLF). For our new readers, Société Générale S.A. (SocGen) is a global bank headquartered in Paris. The company engages its activities in retail banking, corporate and investment banking ((CIB)), and also includes private banking and insurance divisions....

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