French banking giant Societe Generale is reportedly planning to make acquisitions in central and eastern Europe, where the bank’s existing operations offer potential combined cost savings.
The bank’s chief executive Frederic Oudea told financial newspaper Investir that Societe Generale is also open to opportunities in private banking in Europe.
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However, the bank would not be interested in retail banking assets in euro zone countries with weak growth, Oudea said.
Oudea was confident that the bank would achieve its targeted dividend payout ratio of 40% of profit this year, and 50% in 2015 and 2016, due to its performance so far this year.
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