* SG Kleinwort Hambros and Swiss private bank to be sold

* Selling the two divisions to Union Bancaire Privee

PARIS, Aug 5 (Reuters) - French bank Societe Generale said on Monday it had agreed to sell its British and Swiss private banking units to Switzerland's Union Bancaire Privee (UBP) for 900 million euros ($983.8 million).

SocGen said the divisions being sold - SG Kleinwort Hambros private banking Societe Generale Private Banking Suisse - had assets under management of around 25 billion euros as of the end of December 2023.

SocGen said it planned to complete the sales by the end of the first quarter of 2025, as it aims to divest secondary assets to improve its overall performance.

SocGen's shares fell sharply last week

after it cut a key performance target for its French retail banking arm.

SocGen said the sale of SG Kleinwort Hambros and of Societe Generale Private Banking Suisse would lift its core equity tier 1 (CET1) capital ratio by around 10 basis points.

It added it would now focus on its private banking business in France, Luxembourg and Monaco.

($1 = 0.9148 euros) ($1 = 0.9148 euros) (Reporting by Sudip Kar-Gupta and Mathieu Rosemain; Editing by Jacqueline Wong and Stephen Coates)