Societe Generale SA

GLE

Equity

ISIN FR0000130809 / Valor 519928

Euronext - Euronext Paris (2024-12-24)

EUR 26.50-0.45%

Societe Generale SA
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About company

Societe Generale SA is a longstanding financial institution that has played a crucial role in providing financing for global economic development over its 160+ years of existence. As a sustainable bank, Societe Generale has established a reputation for stability and reliability, making it a trusted partner for customers. The bank's core function has always been to support economic growth by providing the necessary financial resources for businesses and individuals. With a focus on building the foundations for economic development, Societe Generale continues to be a key player in the global financial industry.

Summarized from source with an LLMView SourceSector: Finance

Net Income Growth

Societe Generale SA reported a significant increase in net income for the third quarter of 2024, reaching EUR 1.4 billion. This marks a substantial improvement compared to the same period in the previous year, showcasing the company's strong business performance and effective strategic execution.

Revenue Increase

The company achieved revenues of EUR 6.8 billion in Q3 2024, representing a 10.5% increase compared to Q3 2023. This growth was primarily driven by a robust rebound in net interest income in France and solid performances in Global Banking and Investor Solutions, particularly in Equities and Transaction Banking.

Operating Expenses and Cost Efficiency

Operating expenses for Societe Generale SA decreased by 0.8% in Q3 2024 compared to the same quarter in the previous year. The cost-to-income ratio improved significantly to 63.3%, down from 70.4% in Q3 2023, reflecting the company's focus on cost control and efficiency improvements.

Profitability Metrics

Societe Generale SA's profitability, as measured by Return on Tangible Equity (ROTE), increased to 9.6% in Q3 2024, up from 3.8% in Q3 2023. This improvement highlights the company's enhanced operational performance and strategic focus on profitability.

Capital and Liquidity Position

The company's Common Equity Tier 1 (CET1) ratio stood at 13.2% at the end of Q3 2024, well above the regulatory requirement. Additionally, the Liquidity Coverage Ratio was at a strong 152%, underscoring Societe Generale SA's solid capital and liquidity position.

Summarized from source with an LLMView Source

Key figures

10.1%1Y

-11.5%3Y

-15.0%5Y

Performance

28.3%1Y

34.8%3Y

42.7%5Y

Volatility