Société Générale (SocGen) released this morning its numbers for Q3 20. The numbers were better across-the-board. Total income was indeed above expectations (driven by all divisions), while total expenses and total loan losses were better than expected. Guidance regarding loan losses is mainly unchanged as management expects a cost of risk at 70bp, at the lower end of the previous 70–100bp guidance.
The CET1 ratio at 13.1% is well above expectations and makes capital a non-issue (based on the cu ....
05 Nov 2020
A good set of results
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A good set of results
Societe Generale S.A. Class A (GLE:PAR) | 0 0 0.0%
- Published:
05 Nov 2020 -
Author:
Farhad Moshiri -
Pages:
2
Société Générale (SocGen) released this morning its numbers for Q3 20. The numbers were better across-the-board. Total income was indeed above expectations (driven by all divisions), while total expenses and total loan losses were better than expected. Guidance regarding loan losses is mainly unchanged as management expects a cost of risk at 70bp, at the lower end of the previous 70–100bp guidance.
The CET1 ratio at 13.1% is well above expectations and makes capital a non-issue (based on the cu ....