The Limited Times

Now you can see non-English news...

Societe Generale's big offensive to transform itself

2022-01-06T19:32:00.846Z

ANALYSIS - After being heavily affected by the health crisis in spring 2020 and the fall in the markets, the bank has reoriented its strategy.



The year started off with a bang for Société Générale.

By acquiring LeasePlan via its specialized subsidiary ALD, the Banque de la Défense signs the largest acquisition in its history (4.9 billion euros).

And it becomes the undisputed champion of vehicle fleet management, with 3.5 million vehicles in its possession.

“This acquisition allows us to strengthen our position in a business that offers growth, profitability and recurring revenues,”

explains Diony Lebot, Deputy CEO of Societe Generale.

The Stock Exchange applauded the operation Thursday, the title gaining 1.86% while the CAC 40 lost 1.72%.

The best quarter in its history

"This is a relevant operation which changes the bank's economic model towards more profitable professions than traditional activities and which will improve its profitability",

suggests Jérôme Legras, co-founder of Axiom AI.

Societe Generale has great ambitions with its automobile leasing subsidiary.

“The activities of the combined entity are intended to…

This article is for subscribers only.

You have 73% left to discover.

To cultivate one's freedom is to cultivate one's curiosity.

Continue reading your article for € 1 the first month

I ENJOY IT

Already subscribed?

Log in

Source: lefigaro

All business articles on 2022-01-06

You may like

Business 2022-04-11T09:34:47.936Z

Trends 24h

Latest

© Communities 2019 - Privacy