Société Générale (SocGen) (unexpectedly) released this morning its numbers for Q1 20. These were originally planned for 6 May. No surprise then that net banking income was well below expectations (-12%) driven by markets’ dislocation impacts on structured products in the CIB (amouting to about €430m). Loan losses were higher than expected (but guidance roughly in line with expectations for FY2020). SocGen remains well capitalised with a CET1 ratio at 12.
30 Apr 2020
Losses stronger than business as usual...
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Losses stronger than business as usual...
Societe Generale S.A. Class A (GLE:WBO) | 0 0 0.9% | Mkt Cap: 37,685m
- Published:
30 Apr 2020 -
Author:
Farhad Moshiri -
Pages:
3
Société Générale (SocGen) (unexpectedly) released this morning its numbers for Q1 20. These were originally planned for 6 May. No surprise then that net banking income was well below expectations (-12%) driven by markets’ dislocation impacts on structured products in the CIB (amouting to about €430m). Loan losses were higher than expected (but guidance roughly in line with expectations for FY2020). SocGen remains well capitalised with a CET1 ratio at 12.