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The bank sees the business as non-core, having sold part of its operations in 2020, said the people, who spoke on condition of anonymity. But a transaction may not happen soon because difficult market conditions weigh on the unit's valuation, they said. The bank's shares trade at 34% of their book value, almost on par with Deutsche Bank but half of the multiple of its bigger French rival BNP Paribas and Italy's UniCredit, amid concerns about the company's exposure to more volatile income from investment banking.Societe Generale is also said to be mulling options for its asset custody division, based on media reports.
The business employed 1,400 people and had roughly 24 billion euros of loans outstanding at the end of last year, including partnerships, based on SocGen's latest annual figures.
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