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SocGen may invest up to 4 bln euros in organic growth, acquisitions
May 13, 2014 / 7:40 AM / 3 years ago

SocGen may invest up to 4 bln euros in organic growth, acquisitions

PARIS, May 13 (Reuters) - Societe Generale, France’s second-largest listed bank, has up to 4 billion euros ($5.5 billion) for organic growth and acquisitions in the next three years, Chief Executive Frederic Oudea told journalists on Tuesday.

“Acquisitions will respect the balance of our capital allocation, our geographies,” Oudea said, adding that SocGen could, for example, consider acquisitions in retail banking and private banking in Europe.

SocGen is presenting its strategic plan to investors in Paris on Tuesday. ($1 = 0.7270 Euros) (Reporting by Maya Nikolaeva and Matthias Blamont; Editing by James Regan)

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