SocGen makes great strides to 12% capital target

Societe Generale leapt towards its Common Equity Tier 1 capital target by blitzing risk-weighted assets in the first quarter.

The French lender reported a CET1 ratio of 11.7%, up from 11.2% at end-2018, and just 30 basis points short of its 12% target, which it wants to hit by 2020. Around half of the improvement was driven by RWA decreases and optimisation efforts, which benefited the ratio by 23 basis points. Market RWAs alone fell 5.5% quarter-on-quarter, reflecting lower volatility in the

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