Société Générale: Fitch confirms its rating

(Boursier.com) — A little relief on the side of Societe Generale. Upset like the entire sector since the start of the week, the red and black bank sees Fitch Ratings maintain its long-term issuer rating (IDR) at ‘A-‘. The outlook remains ‘positive’. These primarily reflect SG’s improved strategic execution since 2020 and Fitch’s expectations that SG will execute on its key initiatives in retail banking, auto leasing and corporate banking. investment (CIB). “We believe this will help structurally improve the bank’s profit generation. We expect these strategic initiatives will also benefit the bank’s asset quality and capital, and will result in a closer credit profile that of its highest-rated French and global peers in the field of trading and universal banking”, affirms the agency.