In a statement, Societe Generale CEO Slawomir Krupa announced that the French lender will sell its professional equipment financing business to rival BPCE as part of a broader divestment strategy. This sale is expected to be completed by the first quarter of 2025.
Societe Generale Equipment Finance provides leasing and financing solutions to manufacturers, dealers, and vendors in various sectors including transport and industrials. The sale is significant as it marks a new chapter in the bank’s growth strategy, with strong alignment between their services.
In September 2023, Societe Generale presented its strategic roadmap aimed at streamlining its business model while strengthening its capital base. By divesting this business, the bank aims to create a more efficient and synergetic business model while enhancing its capital base. This move will boost the bank’s CET1 ratio by around 25 basis points.
Odile de Saivre, CEO of Societe Generale Equipment Finance, expressed her excitement about this new chapter focused on growth. She emphasized that this move aligns with the bank’s goal of becoming a top-tier European bank that is strong and sustainable in the long term.
