Societe Generale Acquires French Startup Shine
June 30 2020 - 1:06PM
Dow Jones News
By Giulia Petroni
Societe Generale SA said Tuesday that it has acquired French
startup Shine for an undisclosed sum.
The French bank said the neobank, which serves 70,000
entrepreneurs, "simplifies the banking and administrative
experience for its clients with a balanced offer of innovative
services and online support."
Societe Generale said it will market Shine's products to
business clients, while the startup will continue to develop
independently and accept new customers.
The acquisition won't have a significant impact on Societe
Generale's CET1 ratio, the company said.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
June 30, 2020 12:51 ET (16:51 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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