SCGLY - Societe Generale In A Position To Switch From Stabilization To Actual Growth
Shareholders of Societe Generale (SCGLY) (“SocGen”) have endured more than a decade of substandard performance, with the bank underperforming not only relative to other French banks like BNP Paribas (BNPQY) and Credit Agricole (CRARY), but to a wider set of quality European banks as well. SocGen’s problems have been legion, putting the company into a very poor capital position and necessitating numerous defensive asset sales and restructuring efforts.
At long last, though, there are more than just signs of progress. SocGen’s capital improvement in the third quarter may have