SocGen aims to double its profits by 2012
June 15, 2010
Ambition SG 2015. This is the first name of the new strategic plan for Societe Generale, which few details have been released this Tuesday morning in a release.
Among the key elements to retain its objectives, the bank expects to reap a net bénéficet about 6 billion euros in 2012. This is twice that expected profits for 2010. Net revenue is expected to increase 4% per year between 2009 and 2012.
For the CEO, Frederick Oudéa, Societe Generale "has a very attractive model with intrinsic strengths that will enable it to be among the European banks more competitive in the future."
The boss continued: "My strategy for the coming years is to develop our integrated model of universal banking customer-focused, leveraging our position in countries with high growth potential and transform our business model.(…) We will generate solid financial results and sustained growth, with a strong discipline in financial management and risk. "
In two years, the Core Tier One ratio, the famous capital ratio of banks, will be "more than 8%, corresponding to the recommendations of Basel II.
The best in the second quarter
During the first two months of the second quarter,
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