Societe Generale Buyback Boosts Investor Sentiment

30 days ago

Steven Carroll

"and Sausage General in France announcing a€1 billion euro buyback. >> Indeed. So this will begin this month so November 17th and it's being wellreceived as a bit of a boost for investors. They've been holding out for more payments. That's after sojen had their third quarter results a few weeks ago and they didn't outline fresh payments within those results and that was even though it its capital buffer was was was comfortably above a level that it had set at a threshold to then return more money but it didn't announce it in those third quarter results. Um and so today it's been seen as quite a boost. It's been doing very well. Uh share price has more than doubled since the beginning of the year. So it's been one of the best performers among lenders in Europe. So, as I say, shares edging slightly higher this morning on on a bit of positivity for that 1 billion share buyback."

The transcript highlights a €1 billion buyback by Societe Generale, which is set to begin on November 17th. The buyback is seen as a boost for investors, especially after the bank's previous lack of fresh payments in its third quarter results, despite a strong capital buffer. The commentary emphasizes the bank's impressive performance this year, noting that its share price has more than doubled, making it one of the best performing lenders in Europe.

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