French lender Societe Generale could make further acquisitions in the coming years as part of its transformation plan, the bank's deputy CEO told CNBC.
SocGen announced in early July the acquisition of the equity markets and commodities activities of Commerzbank. The decision was part of the bank's 2016-2020 strategic plan to improve the business. Severin Cabannes, deputy CEO of Societe Generale, said that this deal should be approved by all the relevant authorities "by the end of this year."
"At the end of this integration process, the positive impact on our gross operating income is expected to be around 150 million euros ($174.6 million)," Cabannes told CNBC's Joumanna Bercetche, speaking about the impact of the deal on the bank's business.
He also said that there could be further bolt-on acquisitions in the coming years, "but globally speaking it would be limited."