SocGen forecasts muted growth in 2020, set to miss profitability target
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PARIS (Reuters) - Societe Generale joined on Thursday a growing list of European banks cutting or missing key financial targets as they struggle to grow on the back of negative interest rates and volatile trading volumes.Frederic Oudea, SocGen's chief executive since 2009, is trying to lift the bank's profitability and solvency by cutting jobs, costs and businesses. He has downsized investment bank activities but lost 300 million euros revenue as a result.SocGen expects overall profitability to..