Société Générale has agreed to sell its 57.93% stake in Société Générale Guinée to Atlantic Financial Group, enhancing its capital efficiency while ensuring continuity of operations in Guinea.

Information on the Target

Société Générale has entered into an agreement with Atlantic Financial Group, a pan-African banking consortium, for the complete divestiture of its 57.93% stake in Société Générale Guinée, based in Conakry, Guinea. As part of the agreement, Atlantic Financial Group will take over all operations of this subsidiary, including the full customer portfolio and all employees associated with the entity.

This transaction is projected to have a favorable impact of approximately 2 basis points on the Group's CET1 ratio upon completion, which is expected by the end of the first quarter of 2025.

Industry Overview in Guinea

Guinea's banking sector has evolved significantly in recent years, reflecting the country's growing economic stability and potential for investment. The financial landscape is characterized by an increasing number