Société Générale aims to lift its return on tangible equity to 13-14 per cent in 2029 while keeping total costs below 16.3 billion euros. The roadmap targets average annual revenue growth of 3 per cent and 1.9 billion euros of gross savings. From 2030, the bank wants returns above 15 per cent and BoursoBank to reach 14 million customers.
Société Générale has set a new profitability path. Its 2029 roadmap targets a return on tangible equity of 13-14 per cent, compared with about 11 per cent in 2026. The bank aims to exceed 15 per cent from 2030. Reuters reporting carried by Euronext and Société Générale's own announcement agree on those central targets. The plan turns the bank's post-2023 transformation into a set of dated financial commitments.[1], [2]
Costs are one of the main supports for that return goal. Société Générale plans to keep its 2029 cost base below 16.3 billion euros, about 2 per cent under the estimated 2026 level, and lower its cost-to-income ratio below 55 per cent. It targets 1.9 billion euros of gross savings by 2029, drawing on procurement, technology spending, productivity linked to artificial intelligence and a smaller workforce. Average annual revenue growth is set at about 3 per cent.[1]
The roadmap also puts numbers on two growth engines. BoursoBank, Société Générale's online bank, is expected to expand from 9 million customers today to 14 million in 2029. Société Générale's markets division targets 6-6.5 billion euros of global-markets revenue that year. These goals sit beside a common-equity capital ratio above 13 per cent, setting a capital boundary for the planned growth and shareholder distributions.[1]
