SOCIETE GENERALE SIGNS AN AGREEMENT WITH THE STATE OF CAMEROON TO SELL ITS SUBSIDIARY SOCIÉTÉ GÉNÉRALE CAMEROUN
Press release
Paris, 15 July 2025
Societe Generale has signed an agreement with the State of Cameroon which provides for the total sale of the group's shares (58.08%) in Société Générale Cameroun. The State of Cameroon, already a shareholder, would thus hold 83.68% of the shares of Société Générale Cameroun. According to the commitments made, the State of Cameroon would take over all the activities operated by this subsidiary, as well as all the client portfolios and all the employees of this entity.
This transaction would have a positive impact of around 6 basis points on the Group's CET1 ratio, on the expected completion date which could take place by the end of 2025. (1)
This divestment project is subject to the usual conditions precedent and the validation of the relevant financial and regulatory authorities.
(1)Unaudited figures
Press contacts:
Jean-Baptiste Froville_+33 1 58 98 68 00 _ jean-baptiste.froville@socgen.com
Amandine Grison_+33 1 41 45 92 40_ amandine.grison@socgen.com
Societe Generale
Societe Generale is a top tier European Bank with around 119,000 employees serving more than 26 million clients in 62 countries across the world. We have been supporting the development of our economies for 160 years, providing our corporate, institutional, and individual clients with a wide array of value-added advisory and financial solutions. Our long-lasting and trusted relationships with the clients, our cutting-edge expertise, our unique innovation, our ESG capabilities and leading franchises are part of our DNA and serve our most essential objective - to deliver sustainable value creation for all our stakeholders.
The Group runs three complementary sets of businesses, embedding ESG offerings for all its clients:
- French Retail, Private Banking and Insurance, with leading retail bank SG and insurance franchise, premium private banking services, and the leading digital bank BoursoBank.
- Global Banking and Investor Solutions, a top tier wholesale bank offering tailored-made solutions with distinctive global leadership in equity derivatives, structured finance and ESG.
- Mobility, International Retail Banking and Financial Services, comprising well-established universal banksor visit our website societegenerale.com.
Attachment
- 20250715_Societe-Generale_Agreement-to-sell-Cameroon (https://ml-eu.globenewswire.com/Resource/Download/71a2a08a-c9f3-46b9-a100-415a6e1b2619)
