Societe Generale trades at a deep tangible book discount reflecting persistent return-on-equity concerns versus French peers. CEO Slawomir Krupa's plan combines retail banking simplification, Boursorama digital bank scaling, and capital generation through targeted disposals (Societe Generale Equipment Finance, African subsidiaries). Equity derivatives franchise remains a strength but adds volatility. Strategic options are limited by French government attention and labor constraints. High-risk/high-reward turnaround.
Thesis reviewed May 29, 2026
Societe Generale SA is headquartered in France, which is currently showing elevated risk signals.
🇫🇷France74WATCHView France risk detail →🏦Financials100NEUTRAL| Ticker | Company | Score | Gap | Signal Δ | Action |
|---|---|---|---|---|---|
| MELI | MercadoLibre | 90 | -14% | ↓95% | AVOID |
| VIV | Telefonica Brasil (Vivo) | 90 | +8% | ↓95% | ENTRY |
| UBS | UBS Group AG | 90 | +17% | ↓95% | ENTRY |
| CIB | Bancolombia S.A. | 90 | +9% | ↓95% | NEUTRAL |
| DB | Deutsche Bank AG | 90 | -13% | ↓95% | AVOID |
| SAN | Banco Santander SA | 90 | +16% | ↓95% | ENTRY |
| KB | KB Financial Group Inc. | 90 | +17% | ↓95% | ENTRY |
Investors who hold SCGLY may also have indirect exposure through these country funds.
SocGen completes sale of Societe Generale Equipment Finance to BPCE
Boursorama reaches 6 million customers, profitability inflection visible
Estimates · Yahoo Finance · Not audited figures