Societe Generale (SocGen) released this morning its numbers for Q3 21. These were much better than expected and better than those of BNP Paribas in relative terms. The beat was driven by all operating divisions, among which French retail banking had another strong quarter. The merger between SocGen’s two French retail networks (SocGen and Credit du Nord) is, besides, also going on. The CET1 ratio at 13.4% was above expectations. On the negative side, SocGen’s CFO will leave the company.
04 Nov 2021
Another strong quarter
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Another strong quarter
- Published:
04 Nov 2021 -
Author:
Farhad Moshiri -
Pages:
2
Societe Generale (SocGen) released this morning its numbers for Q3 21. These were much better than expected and better than those of BNP Paribas in relative terms. The beat was driven by all operating divisions, among which French retail banking had another strong quarter. The merger between SocGen’s two French retail networks (SocGen and Credit du Nord) is, besides, also going on. The CET1 ratio at 13.4% was above expectations. On the negative side, SocGen’s CFO will leave the company.