Société Générale's hopes to revive its share price after a decade-long decline were dashed after the bank’s newly-introduced 2026 strategic plan failed to win over investors.
France's third-largest bank saw its shares fall by 12.6% on 18 September, after its newly appointed CEO Slawomir Krupa said he anticipated little to no growth in yearly sales over the next few years, and presented a three-year strategic plan that was not well-received by investors. The plan targeted a cost-to-income ratio of less than 60% to boost profits by 2026. This is on top of expecting annual revenue growth of 0-2% by 2026 and a return on tangible equity ratio of 9-10% by 2026. Stock Spotlight: HSBC remains on track for continued growth Will Howlett, equity research analyst...
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