SocGen Is Now Europe’s Cheapest Banking Stock After Plunge
The Societe Generale SA bank headquarters in Paris, France.
Photographer: Nathan Laine/BloombergThis article is for subscribers only.
Societe Generale SA is now the cheapest bank in Europe by a key valuation measure, and yet there are fewer analysts who recommend buying the stock even after this week’s slump.
The shares trade at 0.3 times the company’s estimated book value — dipping just below Deutsche Bank AG. The French lender’s market value has shriveled to less than €19 billion from about €73 billion 15 years ago, and is a far cry from French rival BNP Paribas SA’s €75 billion.