Societe Generale (SocGen) released its numbers for Q419 this morning. These were higher than expected (gross operating income was about 5% higher than expected). CET1 ratio at 12.7% was also 30bps higher than expected. Management cut its ROTE target for 2020 from 9%-10% to “an improvement in 2020 vs. 2019” (in line with consensus’ expectations). It also changed its dividend policy from a €2.20 floor to a 50% payout ratio policy (which may include 10% in share buy-backs)
07 Feb 2020
A solid set of results
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A solid set of results
Societe Generale S.A. Class A (GLE:WBO) | 0 0 0.9% | Mkt Cap: 37,685m
- Published:
07 Feb 2020 -
Author:
Farhad Moshiri -
Pages:
2
Societe Generale (SocGen) released its numbers for Q419 this morning. These were higher than expected (gross operating income was about 5% higher than expected). CET1 ratio at 12.7% was also 30bps higher than expected. Management cut its ROTE target for 2020 from 9%-10% to “an improvement in 2020 vs. 2019” (in line with consensus’ expectations). It also changed its dividend policy from a €2.20 floor to a 50% payout ratio policy (which may include 10% in share buy-backs)