Socit Gnrale, hit earlier this year by a rogue trader scandal, is well equipped to stay independent, new Chief Executive Frederic Oudea told French paper La Tribune.
“I’m convinced that Socit Gnrale is perfectly armed to develop in a profitable manner while remaining independent,” Oudea says in an interview published on Wednesday.
Last month, speculation that the bank could become a takeover target resurfaced after CEO and Chairman Daniel Bouton, who had been a staunch defender of the French bank’s independence, announced he would step down as CEO while holding on to his position as chairman.
In March, SocGen’s rival BNP Paribas said it had decided against considering a bid, having previously said it was looking at the bank, Reuters reports.