SocGen sets retail targets

City A.M. Reporter
SOCIETE Generale has set itself a target to increase profits at its retail banking arms in Russia and Romania.

SocGen, like its rivals, is cutting costs and selling assets to better resist Europe’s sovereign debt crisis, regulatory costs and volatile markets.

The chief executive of France’s second-biggest listed bank, Frederic Oudea, told the Financial Times it was key the bank’s “international retail is delivering growth” by the end of next year.