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French bank SocGen boosts capital in Q4

PARIS, Feb 6 (Reuters) - Societe Generale, France's third-biggest bank, boosted its capital following asset sales in 2019 and said on Thursday that it would introduce a new shareholder remuneration policy in 2020 that would include a possibility of share-buybacks.

SocGen guided that its profitability would improve in 2020, but it fell short of mentioning its earlier return on tangible equity guidance of 9% to 10% (ROTE) in its press release. Its ROTE in 2019 stood at 6.2%.

SocGen's revenue rose 4.8% in the fourth quarter to 6.21 billion euros ($6.8 billion), while net income declined 4.6% to 654 million euros.

Its common equity tier one ratio - a key measure of financial health - rose to 12.7% at end-Dec from 12.5% at end-September.

($1 = 0.9094 euros) (Reporting by Maya Nikolaeva; Editing by Sudip Kar-Gupta)