In a major move, the French lender Societe Generale has announced that it will be selling its professional equipment financing business to its French rival BPCE as part of a broader strategy to simplify its operations under the leadership of CEO Slawomir Krupa. The sale is expected to be finalized by the first quarter of 2025.
The business being sold is a part of Societe Generale Equipment Finance, which offers equipment leasing and financing solutions to manufacturers, dealers, and vendors across different sectors such as transport and industrials. This move aligns with the bank’s goal to evolve into a strong and sustainable top-tier European bank, as highlighted by CEO Slawomir Krupa.
This planned sale is a significant milestone in Societe Generale’s strategic roadmap unveiled in September 2023, aiming to create a streamlined, more synergistic, and efficient business model while enhancing the group’s capital base. The bank anticipates that the sale will increase its CET1 ratio by approximately 25 basis points.
Odile de Saivre, the CEO of Society Generale Equipment Finance, described the sale as the beginning of a new chapter focused on growth, thanks to the close alignment of their services with the buyer. With this divestment, Societe Generale is positioning itself for future success in the evolving financial landscape.
