Frédéric Oudéa: Société générale is agile enough to adapt

At the beginning of the year, Société générale was forced to lower its ambitions. The bank has reduced the scope in the investment bank and put in place a restr

Frédéric Oudéa: Société générale is agile enough to adapt

At the beginning of the year, Société générale was forced to lower its ambitions. The bank has reduced the scope in the investment bank and put in place a restructuring plan. The results for the second quarter show a strengthening of its financial base in spite of the profits decline 14 %, to 1.05 billion euros.

LE FIGARO. - Observers are struggling to read your strategy. Your results of what to reassure?

Frédéric OUDÉA. - I think, and the markets ' reaction to the shows. We have reached in the first half, and much more quickly than anticipated, our solvency target with a capital ratio "hard" of 12 %. We have managed to achieve this thanks to our results and a good control of our allocation of capital. We are reaping the first fruits of the program optimization of our business portfolio. And re-focusing our market activities on our areas of strength.

The president of the bank ...

Updated Date: 03 August 2019, 00:00

Kathleen Lees

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