SocGen CEO Vows More Restructuring After 3 Years as Bank Stays Bottom of Class on Efficiency
Updated
Updated · Bloomberg · May 28
SocGen CEO Vows More Restructuring After 3 Years as Bank Stays Bottom of Class on Efficiency
1 articles · Updated · Bloomberg · May 28
Societe Generale CEO Slawomir Krupa told shareholders the bank’s transformation is “far from over,” signaling further restructuring at the French lender.
Three years into his tenure, Krupa said SocGen remains “at the bottom of the class” on efficiency and is still lagging peers in some areas.
The remarks at Wednesday’s annual general meeting frame cost-cutting and operational overhaul as unfinished work rather than a completed turnaround.
That leaves efficiency improvement at the center of SocGen’s strategy as management tries to close the gap with better-performing rivals.
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