Streetbeat News

SCGLY

Societe Generale S.A.

https://www.societegenerale.com/

CEO

Frederic Oudea

Industry

Commercial Banking

Open

5.55

Mkt cap

22B

Volume

53K

High

5.59

P/E Ratio

9.15

52-wk high

6.11

Low

5.54

Div yield

0.04

52-wk low

4.30

BYD Company (OTC:BYDDF) has partnered with French car-leasing firm Ayvens SA to distribute its electric vehicles in Europe, initially targeting France, the Netherlands, Belgium, and Luxembourg. The partnership aims to provide tailored EV fleet solutions and white-labelled leasing services. BYD is also increasing its presence in Europe by sponsoring Euro 2024 and building a factory in Hungary. However, BYD faces regulatory challenges as the EU plans to impose tariffs on Chinese-made EVs.

Portfolio Pulse from Shivani Kumaresan

July 02, 2024 | 3:58 pm

Revolut, a UK-based fintech company backed by SoftBank Group Corp., is reportedly aiming for a valuation of over $40 billion in an employee share sale. The company is working with Morgan Stanley to sell approximately $500 million worth of existing shares. This valuation would represent a 21% increase from its 2021 fundraising round. Despite challenges in the European fintech market and scrutiny over its UK banking license application, Revolut continues to expand its offerings.

Portfolio Pulse from Benzinga Neuro

June 21, 2024 | 6:50 am

Bloomberg reports that State Street is considering the acquisition of Societe Generale's custody arm, with Socgen seeking over €1B for the unit. This move could significantly impact both companies by potentially enhancing State Street's global custody services while providing Socgen with a substantial financial influx.

Portfolio Pulse from Charles Gross

April 17, 2024 | 11:38 am

AllianceBernstein and Societe Generale have officially launched Bernstein, a new entity focused on leading in the cash equities and research sector. This strategic move aims to leverage the strengths of both firms to establish a dominant position in the market.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 5:47 am

Société Générale (OTC:SCGLY) is set to launch EUR CoinVertible, a euro-denominated stablecoin, which will be the first offered by a major financial institution and fully backed by euros. Unlike JPMorgan's JPMCoin, which is limited to institutional clients, SocGen's stablecoin will be available for trading on crypto exchanges like Bitstamp and comply with the EU's upcoming MiCA regulations. The stablecoin aims to be used for settling trades in digital bonds and other assets, with the euros held in a trust managed by a third party, mitigating exposure risk to the bank.

Portfolio Pulse from Khyathi Dalal

December 06, 2023 | 3:25 pm

Societe Generale (OTC:SCGLY) has issued its first digital green bond on the Ethereum blockchain, worth $11 million, through its subsidiary SG-Forge. The bond, with a three-year maturity, is aimed at financing ESG-classified products and companies. It was fully subscribed by AXA Investment Managers and Generali Investments using Société Générale’s EUR CoinVertible stablecoin. The use of Ethereum's blockchain is noted for its low greenhouse gas emissions, and the bond offers transparency and efficiency in transactions.

Portfolio Pulse from Khyathi Dalal

December 05, 2023 | 4:15 pm

Citigroup Inc (NYSE:C) is planning to launch a direct lending strategy by early January to tap into the $1.6 trillion private credit market. This move is part of a trend among banks like Wells Fargo & Co (NYSE:WFC), Barclays Plc (NYSE:BCS), and Societe Generale SA (OTC:SCGLY), which are expanding into private debt. Citigroup's strategy will offer a range of financing options, including high-yield bonds, leveraged loans, or private credit, to meet the needs of companies and private equity owners, especially in anticipation of a rise in buyout deals.

Portfolio Pulse from Vandana Singh

November 22, 2023 | 2:15 pm

Nomura's cryptocurrency unit, Laser Digital, is expected to take longer to reach profitability due to factors such as shrinking volumes, narrowing activity, and changing regulatory needs. The crypto market's recent downturn, marked by the FTX collapse, has also impacted the unit's performance. Despite these challenges, CEO Jez Mohideen remains optimistic about the future of the crypto space, citing increased interest from large financial institutions.

Portfolio Pulse from Khyathi Dalal

September 08, 2023 | 7:02 pm

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