PARIS |
(Reuters) - Europe's banks will focus on fighting sluggish economic growth and tighter regulation rather than carrying out mergers and acquisitions in the near term, the head of French bank Societe Generale (SOGN.PA) told Reuters.
The environment for deal making could improve beyond the next 18 months, but for now opportunities are thin on the ground, Frederic Oudea said in an interview in his office overlooking Paris' La Defense business district on Wednesday.
"Operating challenges are facing all banks...They're the priority for everyone," said Oudea, who has overhauled management at SocGen to help restore confidence after the financial crisis. "Tighter regulation will make things tougher."
