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The question now is whether France's No. 2 listed bank will be able to sell other, non-U.S. units over the coming year at acceptable prices, potentially getting a capital boost that would lift investor confidence, analysts said on Friday.
"Societe Generale could still sell its custody business, or potentially its insurance unit, or its consumer-credit division in Italy," Natixis analyst Alex Koagne said.
"But as long as there is no appetite for euro-denominated assets it is going to be tricky."
PARIS |
Aug 10
(Reuters) - Societe Generale's sale of its stake in asset manager TCW
was a welcome move as the French bank plays catch-up with peers further
ahead in their capital-raising efforts during the euro zone crisis, but the disposal was only a first step.The question now is whether France's No. 2 listed bank will be able to sell other, non-U.S. units over the coming year at acceptable prices, potentially getting a capital boost that would lift investor confidence, analysts said on Friday.
"Societe Generale could still sell its custody business, or potentially its insurance unit, or its consumer-credit division in Italy," Natixis analyst Alex Koagne said.
"But as long as there is no appetite for euro-denominated assets it is going to be tricky."
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