Societe Generale announces the signature of a memorandum of understanding with the BPCE Group for the sale of the professional equipment financing activities operated by Societe Generale Equipment Finance (SGEF).

The outstanding loans of the activities concerned by the memorandum of understanding amount to almost 15 billion euros at the end of December 2023, representing around eight billion euros of risk-weighted assets (RWA).

This proposed disposal would mark an important step in the execution of Societe Generale's strategic roadmap, presented in September 2023, aimed at 'shaping a simplified, more synergetic and efficient model while strengthening the Group's capital'.

The transaction, subject to customary conditions, would be priced at 1.1 billion euros and would have an estimated positive impact of around 25 basis points on Societe Generale's CET1 ratio at the expected closing date of Q1 2025.

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