Societe Generale's much-hyped new strategy plans were given a thumbs down by investors on Monday, underscoring uncertainty over European banks as they face a brittle economy.
much-hyped new strategy plans were given a thumbs down by investors on Monday, underscoring uncertainty over European banks as they face a brittle economy.
"There are more questions about the future and the economy," Legras said, adding that transformative mergers between banks, which investors have waited for in vain, remained unlikely.That dampens the prospects for Europe's banks, whose valuations are low and static, said one adviser who works with top executives from the region's lenders, adding that investors struggle to see much promise for the sector.
"This is the right plan for the bank for decades to come," Krupa told journalists when asked about SocGen's sharp share price drop in response to his strategy.Europe's banks, which operate across a patchwork of countries, each with their own governments and local rules, have long lagged their U.S. competitors.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Societe Generale Sees Slower Revenue Growth Through 2026By Adria Calatayud Societe Generale is targeting slower average annual revenue growth between 2022 and 2026 than for the 2021-25 period, and aims to...
Leer más »
GBP/USD Price Analysis: Pair reverses below 1.2400, focus on central banks decisionsGBP/USD snaps the two-day losing streak earlier in the day but later reverses, still trading higher around 1.2390 during the early trading hours of th
Leer más »
SocGen's new boss Krupa pledges to cut costs to boost profits by 2026Societe Generale's new CEO Slawomir Krupa pledged on Monday to cut costs to boost profits by 2026 amid stalling sales, in his first strategic plan for the bank.
Leer más »
USD/MXN: Defence of 16.60 can lead to a short-term bounceEconomists at Société Générale analyze USD/MXN technical outlook. 16.60 remains important support USD/MXN rebound petered out near the trend line draw
Leer más »
Gold Price Forecast: XAU/USD should continue to see some selling pressureStrategists at Société Générale continue to like gold in a multi-asset portfolio Gold is driven by nominal rates and inflation Real rates are a major
Leer más »
Toronto Post-Fest Analysis: Which Awards Hopefuls Popped and What’s Winning the Audience Award?THR's Scott Feinberg returns from the fest and offers his major takeaways.
Leer más »