Societe Generale said it will deploy AI and process automation to reduce costs
and lift profitability over the next three years. The bank targets cutting the
Global Banking and Investor Services cost-to-income ratio to below 60% by 2029
(current target 65%), while growing investment banking and trading revenue. It
expects roughly 3% average annual revenue growth and aims to raise ROTE to
13–14% by 2029. Cost savings will come from lower IT and procurement spending
and use of AI; any headcount reduction will be delivered through natural
attrition, with no numerical guidance provided.
