Société Générale (SocGen) has just released its Q4 16 (FY16) earnings. Total income at €6.13bn was 1% higher than consensus expectations, while expenses were 1% higher than expectations. Thanks to net loan loss recoveries in the CIB division, Q4 16’s cost of risk was much lower than expected at €486m (€701m expected). Operating income at €1,245m was therefore 22% above expectations. The CET1 ratio at 11.5% was 10bp higher qoq (100bp higher
09 Feb 2017
A strong set of P&L results...
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A strong set of P&L results...
Societe Generale S.A. Class A (GLE:WBO) | 0 0 0.9% | Mkt Cap: 37,685m
- Published:
09 Feb 2017 -
Author:
Farhad Moshiri -
Pages:
3
Société Générale (SocGen) has just released its Q4 16 (FY16) earnings. Total income at €6.13bn was 1% higher than consensus expectations, while expenses were 1% higher than expectations. Thanks to net loan loss recoveries in the CIB division, Q4 16’s cost of risk was much lower than expected at €486m (€701m expected). Operating income at €1,245m was therefore 22% above expectations. The CET1 ratio at 11.5% was 10bp higher qoq (100bp higher