Closing of the sale of the stake in La Banque Postale Financement and of the sale of private banking activities in Belgium

Societe Generale announces the closing of the sale of its stake in La Banque Postale Financement and of the sale of its private banking activities in Belgium.

These transactions, together with the closing of the sale of the stake in Self Trade Bank (Boursorama subsidiary in Spain) and the closing of the sale of its stake in Societe Generale Expressbank (Bulgaria), brings to four the number of transactions closed since the beginning of 2019. These four transactions will have a cumulated impact on the Group’s CET1 ratio of c. +18bps in Q1 19. 

As of today, Societe Generale has announced a total of ten disposals as part of its refocusing program (including the four transactions mentioned above) which are expected to have a cumulated impact on the Group’s CET1 ratio of c.+39bps in 2019.
 

Press contact:
Antoine Lhéritier +33(0)1 42 13 68 99 antoine.lheritier@socgen.com
Corentin Henry +33(0)1 58 98 01 75 corentin.henry@socgen.com