PARIS: French lender Societe Generale on Monday said it would target a 9 to 10% return on tangible equity ratio (ROTE) in 2026 as it is stepping up profitability and reducing costs.

In a statement published ahead of its capital markets day, the bank also said that it would reduce its exposure to upstream oil & gas businesses by 80% by 2030 when compared to 2019. (Reporting by Tassilo Hummel Editing by Ingrid Melander)