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Societe Generale Announces Sale of U.K. and Swiss Private Banks for Nearly $1 Billion

Societe Generale Announces Sale of U.K. and Swiss Private Banks for Nearly $1 Billion

In a move to streamline their operations and focus on core businesses, Societe Generale has announced the sale of its U.K. and Swiss private banking units for a staggering $982 million. The decision comes after careful consideration and analysis, with the assets under management of these businesses totaling a significant €25 billion as of December 31st, 2024. This strategic move is expected to have a major impact on the banking industry and the future of Societe Generale.