Societe Generale: 2026 Strategic Plan

A FOCUSED STRATEGY FOR A SUSTAINABLE FUTURE

• Be a rock-solid bank: streamline business portfolio, enhance stewardship of capital, improve operational efficiency, maintain best-in-class risk management
• Foster high performance sustainable businesses: excel at what we do, lead in ESG, foster a culture of performance and accountability

2026 FINANCIAL TARGETS: SUSTAINABLE VALUE CREATION

• CET 1 ratio at 13% in 2026, under Basel IV
• Average annual revenue growth between 0% and 2% over 2022-2026
• Cost-to-income ratio below 60% in 2026
• Return on tangible equity (ROTE) between 9% and 10% in 2026
• Payout ratio range between 40% and 50% of reported net income^[1], from 2023

REINFORCED ESG ACTIONS

• A 80% reduction in upstream Oil & Gas exposure by 2030 vs. 2019; -50% reduction by 2025 (vs. previous commitment of -20%)
• EUR 1bn transition investment fund with a focus on energy transition solutions and nature-based and impact-based projects supporting UN’s Sustainable Development Goals

Slawomir Krupa, Chief Executive Officer of Societe Generale Group, commented:

“I am pleased to share our strategic vision, financial targets and our aspirations for the future of Societe Generale. Our 2026 Strategic Plan will deliver our ambition to be a rock-solid, top tier European bank, built on our strong foundations: trusted long-standing client relationships, talented and committed teams, innovative and distinctive value-added businesses and pioneering ESG leadership.

We will strengthen the Group by shaping a simplified business portfolio, while taking the right actions to build-up capital and increase flexibility, structurally improve our operating leverage and maintain our best-in-class risk management. 

Our client-centered business platform and pioneering ESG franchise will bolster the performance of our business in a world of change and opportunities. We will accelerate the decarbonisation of our businesses and work closely with our clients and partners to maximize our positive impact at the forefront of the energy, environmental and social transition.

We will foster a culture of performance and accountability across the Group, powered by our talented and committed people, to ensure we deliver consistent performance and long-term value creation for all our stakeholders.”

Societe Generale’s Board of Directors, under the chairmanship of Lorenzo Bini Smaghi, met on 15 September 2023 and approved the Group’s strategic plan and financial targets for 2026.

The plan is a focused strategy for a sustainable future built circa a clear roadmap with two areas of focus: be a rock-solid bank and foster high performance, sustainable businesses.

[1] After deduction of interest on deeply subordinated notes and undated subordinated notes, restated from non-cash items that have no impact on the CET 1 ratio