Total revenues (reported at €6,175m) were roughly in line with expectations once all exceptionals are stripped out (clean revenues at €6.1bn). Despite higher expenses (once adjusted for the write-back of the Euribor fine of €218m), adjusted profit before tax was roughly in line with expectations due to lower total loan losses (adjusted calculated profit before tax is €1.08bn). Positive news is on the solvency side as CET1 is now at 11.1%, 20bp higher than in Q4 15. New cos
04 May 2016
Decreasing loan losses are not boundless...top-line our main concern
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Decreasing loan losses are not boundless...top-line our main concern
Societe Generale S.A. Class A (GLE:WBO) | 0 0 0.9% | Mkt Cap: 37,685m
- Published:
04 May 2016 -
Author:
Farhad Moshiri -
Pages:
3
Total revenues (reported at €6,175m) were roughly in line with expectations once all exceptionals are stripped out (clean revenues at €6.1bn). Despite higher expenses (once adjusted for the write-back of the Euribor fine of €218m), adjusted profit before tax was roughly in line with expectations due to lower total loan losses (adjusted calculated profit before tax is €1.08bn). Positive news is on the solvency side as CET1 is now at 11.1%, 20bp higher than in Q4 15. New cos