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Societe Generale’s Setback: European Banking’s Growing Crisis

Société Générale, one of the largest banks in France, recently announced its strategy plans for the coming years.

The logo of Societe Generale is seen on the headquarters at the financial and business district of La Defense near Paris, France. PHOTO: REUTERS/BENOIT TESSIER
The logo of Societe Generale is seen on the headquarters at the financial and business district of La Defense near Paris, France. PHOTO: REUTERS/BENOIT TESSIER

As the impact of interest rate increases fizzles out, major lenders in Europe are under scrutiny.

Higher rates are now intensifying pressure on borrowers, threatening to prick a property price bubble, and further slowing down the broader economy.

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