Societe Generale is taking new steps to shore up its retail business and build a differentiated offering amid the challenges of negative rates and Covid-19.
The business will be relatively cheap to run and better adapted to the rise of new digital competitors and open banking, chief financial officer William Kadouch-Chassaing tells Euromoney.
These aims lie behind a project, unveiled in early December, to fully integrate its Crédit du Nord division.
SocGen will shift to one core banking system for French retail, with common central functions for things such as finance, risk, compliance and human resources, including centralized staff training.
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