Societe Generale: A Good Deal Below 0.4x Tangible Book Value [Seeking Alpha]
SOCIETE GENL FRNCE S/ADR (SCGLY)
NASDAQ:AMEX Investor Relations:
societegenerale.com/en/investors
Company Research
Source: Seeking Alpha
Recent woes have been driven in large part by its domestic retail banking business, though both market and bank-specific drivers of poor performance should ease in 2024. With the shares below 0.4x tangible book value, the market is not giving much credence to management's medium-term profitability targets, affording investors enough latitude should the bank fall short. French universal banking giant Societe Generale ( OTCPK:SCGLY OTCPK:SCGLF ) ('SocGen' hereafter) has been a weak performer in recent years, meaningfully lagging both close French peers as well as the wider European financial space ( EUFN ) in that time. Indeed, SocGen's Recommended For You Recommended For You
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