Commenting on the plan, Societe Generale Chief Executive Officer, Frédéric Oudéa said:
“Our 2020 strategic plan, Transform to Grow, is based on a long-term vision of the Societe Generale Group as a trusted partner for our clients, committed to the positive transformations of our societies and economies. Our ambition is therefore to generate superior, profitable and sustainable growth. In a European banking sector undergoing radical industrial change, the Group is ready to enter into a new phase of its development and transformation.
We will rely, first and foremost, on our capacity to anticipate market trends and to innovate, in order to make client experience a competitive advantage. Our business model, centered on Europe and connected to the rest of the world, is made up of synergetic, high value-added activities, serving high potential franchises, with leading positions. Building on the coherence and the openness of our different activities, our ambition translates into five strategic and operational priorities: grow; accelerate the transformation of our businesses, particularly in digital; maintain strict cost discipline; complete the refocusing of the Group; and foster a culture of responsibility at every level of the company.
The Societe Generale Group will develop a differentiated business model, delivering dynamic growth along with an attractive dividend policy. The trust of our clients, the exceptional commitment of our staff and the total alignment of management teams with the expectations of our shareholders and stakeholders, make me very confident in our capacity to meet our targets. On that basis, Societe Generale will be in a position of strength to participate in the completion of the construction of a more integrated European banking sector.”
The entire press release is available in the pdf.