French lender Societe Generale fell short of its Common Equity Tier 1 (CET1) capital ratio goal for 2018. But despite the setback, executives expressed confidence it would still hit its 2020 target of 12%.
The bank posted a CET1 capital ratio of 11.17% for end-2018, down 22 basis points from a year ago and 33bp shy of the aimed-for 11.5%. Taking into account the effect of asset disposals agreed but not completed, the bank said its ratio would have reached its goal.
SocGen expanded its capital