Société Générale (SocGen) released this morning its numbers for Q3 18. Total income at €6.53bn is 8% above expectations and 10% higher yoy, driven mainly by one-offs in the corporate centre. Total expenses were 4% above expectations with a €136m one-off due to litigation charges booked in the quarter. Adjusted for one-offs, gross operating income is 3% higher than expected (and 2% above our own expectations). The CET1 ratio at 11.2% is 10bp higher qoq (in
08 Nov 2018
A good set of results...reassuring CIB and French retail banking
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
A good set of results...reassuring CIB and French retail banking
Societe Generale S.A. Class A (GLE:WBO) | 0 0 0.9% | Mkt Cap: 37,685m
- Published:
08 Nov 2018 -
Author:
Farhad Moshiri -
Pages:
3
Société Générale (SocGen) released this morning its numbers for Q3 18. Total income at €6.53bn is 8% above expectations and 10% higher yoy, driven mainly by one-offs in the corporate centre. Total expenses were 4% above expectations with a €136m one-off due to litigation charges booked in the quarter. Adjusted for one-offs, gross operating income is 3% higher than expected (and 2% above our own expectations). The CET1 ratio at 11.2% is 10bp higher qoq (in